EDF has recorded a €900m impairment for the company’s 2800MW Atlantic Shores project off the coast of New Jersey.
The company announced the financial hit in its annual results presentation on 21 February.
EDF’s joint venture partner Shell already announced its own impairment of nearly $1bn and pulled out of the venture.
New Jersey cancelled its fourth offshore wind solicitation in early February, which was expected to contract capacity from the first 1510MW phase of the array.
Atlantic Shores CEO Joris Veldhoven said at the time: “Atlantic Shores Project 1 holds distinct advantages of an advanced permitting program, existing supply chain investments already putting people to work, a mature interconnection plan, and a clear path to financing that made us the most competitive and deliverable project proposed in NJ4.
“We’re discouraged to see the conclusion of this solicitation without an awarded project.”