Shell's withdrawal from the Atlantic Shores offshore wind project in New Jersey raises concerns about the state's ambitious renewable energy goals. The company cited a lack of expected returns and a challenging market environment as reasons for exiting the project, which was set to become the state's first offshore wind farm. This decision follows a similar move by Orsted earlier this year, highlighting the growing challenges faced by offshore wind development in the United States.
Shell 's withdrawal from the Atlantic Shores offshore wind project in New Jersey marks another setback for the state's ambitious renewable energy goals. The global energy giant cited a lack of expected returns and a challenging market environment as reasons for pulling out, stating that the project no longer aligned with its capabilities.
This decision comes after a string of hurdles for offshore wind development in the United States, including recent attacks from the Trump administration and rising costs associated with construction and supply chain issues. Shell's exit follows a similar move by Orsted, a Danish offshore wind company, earlier this year, highlighting the growing challenges faced by renewable energy projects in the country. The Atlantic Shores project, which was set to become New Jersey's first offshore wind farm, had obtained key federal clearances for both environmental and construction aspects. It aimed to generate 1,510 megawatts of electricity, enough to power 700,000 homes. The project was considered a cornerstone of Governor Murphy's commitment to achieving 100% clean energy by 2050.Despite Shell's withdrawal, Atlantic Shores Offshore Wind, the joint venture between Shell New Energies U.S. and EDF Renewables North America, maintains its commitment to the project. The company emphasized its long-term strategies and obligations to local, state, and federal partners under existing leases and permits. New Jersey Governor Murphy expressed his continued dedication to advancing clean energy initiatives and exploring all available options to bolster the state's energy independence, create jobs, and mitigate the impacts of climate change. The future of offshore wind development in New Jersey remains uncertain, with industry observers closely monitoring the situation and awaiting further developments
OFFSHORE WIND RENEWABLE ENERGY SHELL NEW JERSEY ATLANTIC SHORES ENERGY COSTS CLIMATE CHANGE GOVERNOR MURPHY
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