US to pay almost $1bn to French energy company to kill wind project plan
Trump administration announces deal with TotalEnergies to redirect investment in wind to oil and gas instead.
Summary
The Trump administration's recent agreement with TotalEnergies involves a significant financial shift, reallocating nearly $1 billion intended for a wind energy project towards fossil fuel investments.
This decision comes in response to a global fuel crisis exacerbated by geopolitical tensions, notably the war in Iran, which has driven up fossil fuel prices.
The implications of this deal highlight a strategic pivot in energy policy, prioritizing oil and gas over renewable energy sources, which may affect future infrastructure planning and capacity development.
Updates
Update at 00:43 UTC on 2026-03-24
Le Monde reported The French company shifts focus from renewable energy to oil and gas investments, ending significant wind turbine programs.
Sources: Le Monde