RWE AG (ETR:RWE) has reached a deal with the US Department of the Interior to relinquish its offshore wind leases in New York Bight and off the coasts of California and Louisiana.

RWE U.S. Offshore reaches settlement agreement with U.S. Department of Interior on offshore wind leases

RWE struck a $1.22 billion deal to cancel US offshore wind leases and invest in gas, joining a wave of buyouts totaling over $2.5 billion.