U.S. Transportation Secretary Duffy withdraws $679 million in federal funding for 12 offshore wind projects, redirecting funds to shipbuilding and core infrastructure. The Trump administration aims to prioritize maritime dominance and traditional energy over wind initiatives. 12 projects were affected, with withdrawals including $427M from Humboldt Bay Offshore Wind and $176M from six Port Infrastructure Development Program projects. Terminated projects totaled $75M. Funds will be recompeted for port upgrades. Duffy called offshore wind projects “wasteful” and plans to focus on revitalizing U.S. shipbuilding. Key withdrawn projects include Sparrows Point Steel Marshalling Port and Norfolk Offshore Wind Logistics Port.

Read more at Quiver Quantitative LLC: U.S. DOT Withdraws $679M in Offshore Wind Funding, Redirects to Maritime and Port Projects