TOP STORIES

Shell exits 2.4GW offshore wind joint venture

RICHARD HEAP

March 21, 2024

Shell New Energies US has sold its 50% stake in its 2.4GW offshore wind joint venture SouthCoast Wind to partner Ocean Winds.

Shell and Ocean Winds have been developing the SouthCoast project, formerly called Mayflower Wind Energy, off the coast of Massachusetts. However, Shell has now decided to exit the project to focus on other schemes. Ocean Winds said it will seek another partner for Shell’s 50% stake before taking a final investment decision on the project.

Glenn Wright, senior vice president at Shell Energy Americas, said: “In line with our Powering Progress strategy, Shell continues to hone our portfolio of renewable generation projects in key markets where we have an advantaged position… We are grateful to Ocean Winds for their years of partnership within this venture, and continue to seek opportunities to provide more energy, with fewer emissions.”

Shell is developing a portfolio of offshore wind farms off the coast of New Jersey and New York in a 50:50 joint venture with EDF Renewables, called Atlantic Shores.

Read more