Trump administration settles offshore wind deal that channels $900 million to donor's private equity firm

The Trump administration's $1.2 billion settlement with German energy company RWE to cancel its offshore wind leases will direct $900 million of taxpayer funds to Stonepeak, a private equity firm co-founded by Michael Dorrell, a major donor to Trump's inaugural committee. The money is being used to buy a stake in the Louisiana LNG export project from Stonepeak, reducing the firm's exposure rather than funding new construction. Lawmakers denounced the deal as 'blatantly illegal' corruption, expanding an existing investigation, while several states are challenging the settlements in a federal lawsuit. The White House denied any conflict of interest.