The US cancels 4.4 GW offshore wind leases for oil and gas new deals

The US Department of Interior (DOI) has announced that it has reached a deal to end two additional US offshore wind leases, namely Bluepoint Wind and Golden State Wind, in exchange for USD885m in pledged investments in domestic fossil fuels (US DOI statement, 27/04/2026).

Both projects are joint ventures. Ocean Winds, a joint venture between France's ENGIE and Portugal's EDP Renewables, partnered with Global Infrastructure Partners (a unit of asset manager BlackRock) on Bluepoint Wind (2.4 GW) off the coast of New York and New Jersey, and with Reventus Power, a UK-based offshore wind investment firm, in the Golden State Wind project (2 GW) off California. 

Under the Bluepoint Wind agreement, Global Infrastructure Partners has agreed to invest USD765m, the initial bid amount for Bluepoint Wind, in a US LNG facility, and Bluepoint Wind has decided not to pursue any new offshore wind developments in the United States. 

Under the Golden State Wind agreement, the joint venture will be refunded USD120m in lease fees in exchange for an agreement to invest an equal amount in the development of US oil and gas assets, energy infrastructure, and/or LNG projects along the Gulf Coast. As well, Golden State Wind has also decided not to pursue any new offshore wind projects in the United States.

The announcement comes a month after French energy company TotalEnergies reached a similar agreement with the DOI to redirect USD928m from offshore wind leases to US oil and gas production. Refunded lease fees will fund the 29 Mt/year Rio Grande LNG plant construction and Gulf of Mexico oil and gas development. The company also signed a LOI with Glenfarne (Alaska LNG lead developer) for 2 Mt/year LNG offtake over 20 years, pending FID (KEI, 25/03/2026).