January 31, 2025 — The developer behind a major New Jersey offshore wind farm said it will continue with the project even after its partner said Thursday it is withdrawing and writing off $1 billion in losses.
Atlantic Shores was in a 50-50 partnership with Shell New Energies to develop a combined 4,310 megawatts of offshore wind capacity in two areas roughly 8.4 miles off New Jersey’s coast. Shell said Thursday it is ending its involvement in the project.
“While we can’t comment on the views of shareholders, Atlantic Shores intends to continue progressing New Jersey’s first offshore wind project and our portfolio in compliance with our obligations to local, state and federal partners under existing leases and relevant permits,” Atlantic Shores said in a statement.