TotalEnergies Pauses New York Bight Offshore Wind Farm Amid Trump's Election Victory

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ICARO Media Group
Politics
27/11/2024 21h51

**TotalEnergies Halts Offshore Wind Project Following Trump’s Election Victory**

A major energy project faces an uncertain future as French company TotalEnergies SE decided to pause its plan for an offshore wind farm near the New York-New Jersey coastline. The decision comes in the wake of President-elect Donald Trump's electoral win, signaling potential changes in the U.S. energy landscape under his incoming administration.

Patrick Pouyanne, CEO of the Paris-based oil and gas giant, announced the suspension at a London conference, noting the company's intention to revisit the project in four years. "Offshore wind, I have decided to put the project on pause with Trump's return," Pouyanne said, according to Bloomberg News. The TotalEnergies subsidiary, Attentive Energy, had previously committed to investing in the New York Bight offshore wind farm project.

The New York Bight project, which stretches from Cape May Inlet in New Jersey to Montauk Point on Long Island, is still in its preliminary stages. The consortium, including Attentive Energy, had acquired leasing rights from the Bureau of Ocean Energy Management (BOEM) in 2022, an effort totaling $4.37 billion.

During the campaign, Trump expressed strong opposition to offshore wind initiatives, vowing to block such projects via executive orders on his first day in office. He cited environmental concerns and high costs as primary reasons for his stance. "They destroy everything, they're horrible, the most expensive energy there is," Trump said in a May speech.

Even as the broader offshore wind industry remains optimistic about collaborations with Trump and Congress, analysts expect delays for projects not yet in advanced stages. Timothy Fox of ClearView Energy Partners noted, "Amid the changing political landscape, we are not surprised to see a developer pause an offshore wind project that's in the preliminary stages of development."

Nevertheless, the outgoing Biden administration has been pushing forward aggressively with clean energy plans. Recently, the BOEM approved the Maryland Offshore Wind Project in September, marking the 10th major offshore wind farm in the nation and progressing towards Biden's goal of 30 gigawatts by 2030. Another New Jersey offshore wind project received pivotal approval on October 1.

As political dynamics evolve, the future of several other preliminary offshore wind projects remains in flux, with industry watchers keenly observing how the incoming administration's policies will unfold.

The views expressed in this article do not reflect the opinion of ICARO, or any of its affiliates.

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