By Steven Rodas | NJ Advance Media for NJ.com
Shell has effectively withdrawn from New Jersey’s first offshore wind farm, Atlantic Shores — marking the latest major setback to the state’s clean energy ambitions.
Spokespeople told NJ Advance Media on Thursday that the developer remained committed to the project.
At the end of last year, Atlantic Shores (made up of both Shell New Energies US and EDF Renewables North America) noted that its plans for nearly 200 wind turbines were on schedule.
The CEO of the developer also said construction on the wind farm — set to be built roughly 8 to 20 miles off the coast of New Jersey between Atlantic City and Barnegat Light — could begin some time in 2025.
It’s unclear if that timeline remains intact after Shell’s Chief Financial Officer said in an earnings call Thursday that the company would, while retreating from the project, write-off of nearly $1 billion. That financially signals a significant pivot from previous plans.
Related:
In win for Trump, oil giant Shell walks away from offshore wind farm (AC Press)
Shell Takes $1 Billion Hit on Wind Farm Trump Wants ‘Dead’ (Bloomberg)
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