Atlantic Shores Presses On After Shell’s $1 Billion Offshore Wind Exit

The developer behind New Jersey’s first offshore wind farm plans to continue the project despite Shell’s withdrawal from the project.

Shell on Thursday announced its exit from the Atlantic Shores offshore wind project, taking a $996 million impairment as the U.S. offshore wind sector faces renewed political challenges.

Atlantic Shores Offshore Wind, a 50:50 joint venture between Shell New Energies US LLC and EDF-RE Offshore Development, LLC, had been positioned as one of the largest offshore wind development companies on the U.S. East Coast with approximately five gigawatts of capacity under development.

The joint venture recently received final federal approval from the Bureau of…