The U.S. administration said it has reached a settlement agreement with Chicago-based power project developer Invenergy to terminate four offshore wind leases and reimburse the company $765 million in lease fees.
According to disclosed statements, the leases include the Leading Light Wind project, which had been planned for as much as 2.4 gigawatts of capacity, as well as other lease areas located off the coasts of Maine and California.
The Interior Department said the reimbursement would be paid under the settlement agreement, and statements cited in the reports said the funds are intended to support natural gas and geothermal projects.