The Trump administration closed a deal with the French energy company TotalEnergies to pay it nearly $1 billion to end construction of two wind farms.

The US and the French company signed an agreement to end TotalEnergies' offshore US wind farm projects and redirect those funds towards fossil fuel production.

Trump administration announces deal with TotalEnergies to redirect investment to oil and gas

As part of the deal, the company will invest the money in fossil fuel projects instead, the Interior Department said.

The French company is ending two offshore wind turbine programs off the coasts of New York and North Carolina, totaling 4 gigawatts of power. It will receive a $928 million…

The Trump administration closed a deal with the French energy company TotalEnergies to pay it nearly $1 billion to end construction of two wind farms.

The announcement comes as the Iran war disrupts global oil and gas supplies, making the U.S.' development of its LNG resources more urgent.