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RWE has agreed to cancel its offshore wind contracts in the US for $1.22 billion as it shifts focus toward gas investments.

German energy company RWE announced a $1.22 billion agreement to terminate its offshore wind power leases in the United States. This decision aligns with the continuation of the US administration's halt on offshore wind projects under former President Trump. RWE's pivot involves redirecting investment focus toward natural gas developments while stepping back from the US offshore wind sector.