Shell has effectively withdrawn from New Jersey’s first offshore wind farm, Atlantic Shores — marking the latest major setback to the state’s clean energy ambitions.

Shell Plc said it has written off almost $1 billion and withdrawn from a US offshore wind farm as President Donald Trump seeks to stymie the industry’s development with executive orders.

Shell said Thursday that it no longer expected the wind farm to produce the returns it expected and would take a $996 million loss. The lease states that the first year’s rent was $550,000, with ...

Shell Plc said it has written off almost $1 billion and withdrawn from a US offshore wind farm as President Trump seeks to stymie the industry’s development with executive orders.

Shell's exit follows a similar decision by Danish wind developer Orsted, which scrapped two New Jersey offshore wind farms in October 2023, citing financial unviability.

The offshore wind industry is floundering as President Donald Trump reverses Biden-era policies designed to boost the ...

Google LLC and Shell PLC have partnered to extend the life of the NordzeeWind project, the first wind farm on the Dutch side of the North Sea according to Shell, by at least four years.

Shell acquired full control of the project in March 2021. According to Google, it has now supported more than 1GW of clean energy generation in the Netherlands through PPAs. Last February, the search ...

Shell Plc said it has written off almost $1 billion and withdrawn from a US offshore wind farm as President Donald Trump seeks to stymie the industry’s development with executive orders.. It’s ...