Energy company RWE have struck a $1.22bn deal with the Trump Administration to cease offshore wind projects and redirect the cash towards fossil fuel investment.

This marks the fifth renewable energy project that the President has exchanged for further funding towards fossil fuels. He has also shown his belief in non-renewables after ordering for a Colorado coal plant to stay open earlier this year.

The announcement on Thursday confirmed that RWE has agreed to give up its offshore wind leases off the coasts of New York, California and Louisiana. The organisation said there was no path forward to permit the projects in the US for the foreseeable future.

As part of the agreement, RWE will spend $900m for a 16% stake in an unnamed Louisiana liquified natural gas project and a $300m turbine reservation agreement to develop a pipeline of 15 natural gas plants across the US.

So far, the administration has spent up to $1.1 billion to boost coal projects and this deal means that almost $4bn of taxpayer money has been spent on erasing offshore wind developments.

RWE also said that the deal would allow it to direct resources towards energy projects that can be advanced with certainty.