A $1.2 Billion Deal to Kill RWE's Offshore Wind Leases Sends $900 Million to a Firm Run by a Trump Inaugural Donor

The Washington Post reported on Aug. 27 that a federal settlement paying German utility RWE $1.2 billion to surrender offshore wind leases in New York, California and Louisiana will route $900 million of it to a firm run by a Trump donor. RWE is using the money to buy a stake in the Louisiana LNG project from Stonepeak, the private equity firm co-founded and led by Michael Dorrell, who gave $926,300 to the Trump-Vance inaugural committee weeks after the 2024 election and $73,700 more soon after. Interior says it did not direct RWE's choice; RWE says it decided independently.

The settlements, now near $4 billion across a dozen voided leases, require recipients to reinvest in oil, gas or nuclear projects but do not say where, leaving little visibility into who ultimately benefits.

Rep. Jared Huffman said he will widen an existing probe to cover the Stonepeak transaction. Several states are challenging the settlements in a federal suit filed in June.