12:37 PM EDT, 03/23/2026 (MT Newswires) -- TotalEnergies (TTE) said Monday it signed settlement agreements with the US Department of the Interior to relinquish its Carolina Long Bay and New York Bight offshore wind leases awarded in 2022, effectively exiting the US offshore wind sector.

Under the agreement, TotalEnergies will recover the lease fees it paid and reinvest a comparable sum to expand US gas and power production and exports, the company said.

The company said that "considering that the development of offshore wind projects is not in the country's interest, we have decided to renounce offshore wind development in the United States."

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