US offshore wind developer Atlantic Shores will continue with its New Jersey project despite its partner, Shell New Energies, withdrawing from the partnership and writing off $1 billion in losses.
Atlantic Shores was set to develop 4,310 megawatts of offshore wind capacity in two areas, roughly 8.4 miles off New Jersey’s coast. However, after President Donald Trump issued a presidential memorandum blocking new leases and permits for onshore and offshore wind projects last week, the company announced it would proceed with development.
The project, Atlantic Shores South, is expected to generate 2,800 megawatts as early as 2028 and has obtained all federal approvals prior to the order. However, Atlantic Shores North, intended to generate 1,510 megawatts, now faces uncertainty due to the Trump administration’s memo.
Governor Phil Murphy’s office declined to comment on Shell’s withdrawal, but the governor remains committed to advancing his administration’s environmental and clean energy priorities.
Source: https://newjerseymonitor.com/briefs/wind-farm-developer-said-project-will-continue-despite-loss-of-major-investor