28 Apr Trump administration buyback continues as a tactic againt wind projects
(Oilandgaspress) -– Bluepoint Wind, a 2.4GW project on the east coast from developers Ocean Winds and Global Infrastructure Partners, and Golden State Wind, a 2GW California floating wind farm also from Ocean Winds in partnership with Reventus, will get a refund on money they spent on the leases.
Bluepoint was acquired in February 2022 for $765m while the developers spent $150m to acquire the Golden State lease in December 2022.
According to the US Department of the Interior, the companies will use the funds to investment in “reliable conventional energy projects”.
This includes the BluePoint funds going into a US-based LNG facility, while Golden State will be able to receive around $120m once it has made an equivalent investment in US oil and gas assets, energy infrastructure, and/or LNG projects along the Gulf Coast, according to the DoI.
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