Shell New Energies US has withdrawn from Atlantic Shores Offshore Wind, assigning its 50% membership interest to joint venture partner EDF-RE Offshore Development (EDF power solutions), effective immediately.
Atlantic Shores was a 50-50 partnership between Shell and EDF power solutions, formed to develop offshore wind projects off the coasts of New Jersey and New York.
Shell said the move aligns with its broader power strategy, shifting away from capital-intensive generation projects toward assets that leverage its trading and retail operations. The decision follows impairment charges for Atlantic Shores reported in Shell’s fourth-quarter 2024 segment earnings.
Shell continues to manage a global portfolio of solar, wind, and storage assets, focusing on disciplined capital allocation and value delivery from its renewable generation projects in markets where it holds an advantaged position.
