Golden State Wind Offshore Wind Project Lease Buyout

lease buyout agreement

Golden State Wind is a floating offshore wind project proposed off California’s central coast. The California Energy Commission issued an administrative subpoena to Golden State Wind seeking documents and information about the company's recent agreement with the Department of the Interior to accept a payout in exchange for voluntarily abandoning its offshore wind lease. The Trump administration is spending nearly $2 billion to get energy companies to walk away from U.S. offshore wind projects, including Golden State Wind and Bluepoint Wind, with reimbursements totaling nearly $900 million, provided they invest equally in fossil fuels.