Shell Pulls Out of Major New Jersey Offshore Wind Project
2025-01-31
Shell has abandoned its participation in the large Atlantic Shores offshore wind project off the coast of New Jersey, citing increased competition, delays, and a shifting market. This decision follows President Trump's early actions against offshore wind, creating regulatory uncertainty. While the Biden administration approved the project, the lingering effects of Trump's executive order, coupled with the high cost of offshore wind, led Shell to write off a nearly $1 billion investment. The move raises concerns about the future of offshore wind projects and highlights the importance of stable policy support for renewable energy investment.
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