In a statement, Shell explained: “This decision was taken in line with Shell’s power strategy, where we continue to maximize the value of our platforms and high-grade our portfolio, shifting away from capital-intensive generation projects to assets that support our trading and retail strengths.” The move reflects Shell’s focus on optimizing its energy portfolio toward areas aligned with its core operations.
Atlantic Shores had received approval from US federal regulators in October 2024 for a development of up to 2.8 GW off the coast of southern New Jersey. The project, planned to feature up to 197 turbines, was among the major offshore wind initiatives in the region.
Earlier, in August, the state of New Jersey approved a request from the Shell-EDF partnership to cancel its offtake agreement for 1,500 MW from the project’s first phase. The cancellation signaled a shift in the commercial framework for the initial stage of the development.
Shell’s withdrawal from Atlantic Shores highlights the company’s strategy to prioritize assets that complement its trading and retail businesses over capital-intensive renewable generation projects. EDF will now continue development and operations for the Atlantic Shores project, maintaining the momentum for offshore wind capacity in southern New Jersey.
The project remains a significant component of the region’s renewable energy expansion, with Atlantic Shores poised to provide large-scale clean electricity once operational. Despite Shell’s exit, EDF’s continued involvement ensures that the planned infrastructure and generation capacity remain on track.
Overall, the decision underscores Shell’s strategic portfolio adjustment in the US energy market while allowing Atlantic Shores to move forward under EDF’s full ownership, supporting the broader growth of offshore wind in the region.
