In win for Trump, oil giant Shell walks away from major New Jersey offshore wind farm
In the first serious fallout from President Donald Trump’s early actions against offshore wind power, oil and gas giant Shell is walking away from a major project off the coast of New Jersey
In the first serious fallout from President Donald Trump's early actions against offshore wind power, oil and gas giant Shell is walking away from a major project off the coast of New Jersey.
Shell told The Associated Press it is writing off the project, citing increased competition, delays and a changing market.
“Naturally we also take regulatory context into consideration,” spokesperson Natalie Gunnell said in an email.
Shell co-owns the large Atlantic Shores project, which has most of its permits and would generate enough power for 1 million homes if both of two phases were completed. That’s enough for one-third of New Jersey households.
It's unclear whether Shell's decision kills the project — partner EDF-RE Offshore Development says it remains committed to Atlantic Shores.
On his first day in office, Trump signed an executive order singling out offshore wind for contempt with a temporary halt on all lease sales in federal waters and a pause on approvals, permits and loans. Perhaps most of interest to Shell, the order directs administration officials to review existing offshore wind energy leases and identify any legal reasons to terminate them.
Large offshore wind farms have been making electricity for three decades in Europe, and more recently in Asia. They are considered by experts to be an essential part of addressing climate change because they can take the place of fossil fuel plants, if paired with battery storage. New Jersey has set a goal of generating 100% of its energy from clean sources by 2035.
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