1 day ago · Shell plc is withdrawing from the Atlantic Shores wind project of New Jersey, writing off nearly $1 billion as the energy major retreats from its earlier pivot toward renewables.. In its quarterly earnings report on Jan. 30, Shell disclosed a $996 million impairment associated with Atlantic Shores, planned as a 2,800-megawatt array of 197 turbines off Long Beach Island and …

Shell has effectively withdrawn from New Jersey’s first offshore wind farm, Atlantic Shores — marking the latest major setback to the state’s clean energy ambitions.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 ...

Jul 2, 2024 · Atlantic Shores Offshore Wind, LLC is a 50:50 partnership between Shell New Energies US LLC and EDF Renewables North America and its Lease Area is located approximately 10-20 miles off the coast of New Jersey between Atlantic City and Barnegat Light.

16 hours ago · Shell was pausing its involvement in Atlantic Shores as a result, according to the website. Atlantic Shores Offshore Wind is a 1.5-gigawatt power project partnership by Shell New Energies U.S. and ...

14 hours ago · TRENTON, N.J. (WPVI) -- The second of four major wind farms planned off the coast of New Jersey in our area is now in limbo. Energy company Shell withdrew from the Atlantic Shores offshore wind ...

16 hours ago · Shell's fourth-quarter earnings included $2.2 billion in impairments, part of which was a $1 billion write-off for Atlantic Shores, with Chief Financial Officer Sinead Gorman stating that the ...

Shell is pulling out of the Atlantic Shores project, writing off nearly $1 billion as the industry collapses under its own weight,” U.S. Rep. Jeff Van Drew (R), who represents much of the shore ...

1 day ago · Investing.com -- Shell (LON: SHEL) Plc announced its withdrawal from the Atlantic Shores offshore wind farm project in the US, resulting in a write-off of nearly $1 billion. The decision was ...

17 hours ago · Shell’s withdrawal comes a little more than a week after President Donald Trump issued a presidential memorandum blocking new leases and permits for onshore and offshore wind projects. Atlantic Shores South, set to generate 2,800 megawatts as early as 2028, is the only New Jersey offshore wind project still being developed to have obtained ...

19 hours ago · Atlantic Shores says it will push forward with its planned wind energy farm off the coast of southern New Jersey despite the reported ... and now Shell is following suit,” Van Drew said in a ...