EDPR to receive $200m in US offshore wind settlement

EDP Renováveis said its offshore wind joint venture Ocean Winds has reached an agreement with US authorities to resolve a dispute over the Bluepoint Wind and Golden State Wind leases, a move that will bring in a $200 million refund and matters because the US remains the company’s main market.

According to a statement filed with Portugal’s securities market regulator CMVM, Ocean Winds North America — owned 50-50 by EDPR and Engie — and its partners agreed to settle potential litigation with the US Department of the Interior over the two offshore wind concessions. The agreement, approved by the US Department of Justice, provides for the reimbursement of amounts previously paid to acquire the leases.

The refund is conditional on reinvesting an equivalent amount in other energy projects in the United States that are aligned with the priorities of the current US administration. EDPR said the payment is expected in 2026, once the required conditions have been met.

EDPR added that the United States remains its largest market, accounting for about 60% of its €7.5 billion investment plan for 2026-2028, with what it described as growing visibility for contracting new capacity beyond 2028.

Originally published at Eco.pt