New York State comptroller threatens TotalEnergies with divestment over U.S. offshore wind lease buyout

Type: Partnership · Technology: Offshore Wind · Country: United States · Announced: 2026-05-08

New York State comptroller Thomas DiNapoli has warned TotalEnergies of potential divestment from its U.S. offshore wind portfolio due to legal and regulatory risks posed by a Trump administration lease buyout agreement. The comptroller, who oversees the state's $270 billion pension fund, highlighted concerns over the agreement's impact on the Empire Wind project, a 2.1 GW offshore wind development off New York's coast. TotalEnergies and Equinor, the project's co-developers, face uncertainty as the lease buyout could disrupt financing and contractual agreements. The comptroller's office manages material investments in renewable energy projects, including offshore wind, and is evaluating its exposure to TotalEnergies' U.S. operations. The Empire Wind project, initially awarded in 2017, has faced multiple delays and cost overruns, with the developers seeking additional state support to proceed.

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