The state of New Jersey has approved a request from Shell-EDF joint venture Atlantic Shores to pull out of an agreement with the state to deliver 1500MW from a planned offshore wind array off the coast of the state.
The New Jersey Board of Public Utilities voted this week to cancel the offshore renewable energy certificate the project won from the state in 2021.
“It is very hard to lose 1500MW of electricity at a time when we know we need not just clean electricity, but more electricity,” board president Christine Guhl-Sadovy said as the three-member board voted unanimously to cancel the contract.
The developers stated the project was no longer financially viable in a June termination request, and cited uncertainty and delays stemming from the federal government, as well as industry-wide financial challenges.