Shell has formally ended its involvement in Atlantic Offshore Wind, marking the oil supermajor’s withdrawal from the US offshore wind sector.
The company said in a release that it had assigned its 50% ownership of Atlantic Shores to its joint venture partner EDF with immediate effect.
Shell said: “This decision was taken in line with Shell’s power strategy, where we continue to maximize the value of our platforms and high-grade our portfolio, shifting away from capital-intensive generation projects to assets that support our trading and retail strengths.”
Atlantic Shores had received approval from US federal regulators in October of 2024 for an up-to 2.8GW development off the coast of southern New Jersey, featuring up to 197 turbines.
In August the state of New Jersey approved a request from the Shell-EDF to cancel its offtake agreement for 1500MW from the project’s first phase.