$900M paid out by Trump to end wind farm project is going to firm run by a Mar-a-Lago neighbor: report

$900M paid out by Trump to end wind farm project is going to firm run by a Mar-a-Lago neighbor: report The White House has insisted there is no conflict of interest in the settlement deal, which ends offshore projects in New York, California and Louisiana - Bookmark - CommentsGo to comments A company run by a neighbor of President Donald Trump is set to earn a nearly billion-dollar windfall as a result of a settlement deal to end U.S. offshore wind projects, according to a new report. Under the settlement, announced earlier this month, the Trump administration will pay RWE, a German energy company, $1.2 billion for it to relinquish its offshore leases in New York, California and Louisiana. The Republican president has long opposed offshore wind projects — which he’s labeled ugly, expensive and detrimental to whales — and has worked to block leases. Instead, his administration has moved to bolster and expand the fossil fuel industry. “After careful consideration, it was determined there is no path forward to permit these projects in the U.S. for the foreseeable future,” RWE U.S. Offshore said in a statement. The agreement brings the total amount spent on such settlements to nearly $4 billion. A stipulation of the deal is that RWE must invest in “conventional energy” ventures. In fact, the company will spend the lion’s share of the payout, $900 million, to purchase part of a liquefied natural gas project in Louisiana, The Washington Post reported. That stake is being bought from Stonespeak, a private equity venture led by Michael Dorrell, an Australian billionaire. Dorrell, who is also a U.S. citizen, has both monetary and physical ties to the president. After Trump’s 2024 election, he donated $1 million to the Trump Vance Inaugural Committee. Dorrell also owns a home near Mar-a-Lago, the president’s Florida estate, and has bragged about mingling with the Republican’s inner circle. “It is a once-in-a-lifetime thing, and I’ve taken a bunch of my friends there already,” he said during a business event this year, according to the Post. “You’re sitting 15 meters from the president and it’s a cast of characters.” The administration has insisted that everything is above board. “This story is a brazen attempt to insinuate a conflict-of-interest that does not exist,” a White House spokesperson told the outlet. RWE, meanwhile, said the company acted independently, and a spokesperson for the Interior Department, which oversaw the settlement deal, said: “No one at the Department directed which company RWE was to invest in.” Some Democratic lawmakers aren’t buying the explanation, though. “These fake ‘settlements’ were already an insane waste of taxpayer funds and a ridiculous charade that seems to be blatantly illegal,” Rep. Jared Huffman, a California Democrat, told the Post. “This now adds the stench of corruption.” The Independent has contacted the White House for comment. Join our commenting forum Join thought-provoking conversations, follow other Independent readers and see their replies Comments