3 sources·Business

Shell Withdraws from New Jersey Offshore Wind Project, Citing Market Changes and Regulatory Environment

Shell's exit from the Atlantic Shores project reflects heightened competition and market shifts, influenced by regulatory changes under Trump's administration.

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  1. Shell gives Donald Trump a win off New Jersey shore

    Shell's withdrawal from the Atlantic Shores project not only highlights the uncertainties plaguing the offshore wind sector in the U.S., but it also underscores the tangible impact of regulatory shifts and market challenges on renewable energy initiatives.

    Shell gives Donald Trump a win off New Jersey shore

    NewsweekNewsweek·2M
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  2. In win for Trump, oil giant Shell walks away from major New Jersey offshore wind farm

    Shell’s withdrawal from the Atlantic Shores project underscores the precarious position of offshore wind development in the current regulatory environment shaped by the Trump administration, highlighting the tension between climate goals and fossil fuel interests.

    In win for Trump, oil giant Shell walks away from major New Jersey offshore wind farm

    Associated PressAssociated Press·2M
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  3. In Win for Trump, Shell Quits N.J. Offshore Wind Farm

    Shell's withdrawal from the Atlantic Shores project symbolizes the significant risks that the offshore wind industry faces in a shifting regulatory landscape, particularly as political influences can dramatically alter the investment climate.

    In Win for Trump, Shell Quits N.J. Offshore Wind Farm

    NewsmaxNewsmax·2M
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  1. Newsweek
  2. Associated Press
  3. Newsmax
Jan 31st, 2025, 4:03 PM ET

Summary

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Shell has announced its withdrawal from the Atlantic Shores offshore wind project in New Jersey, citing increased competition, delays, and regulatory factors influenced by Trump’s executive order halting lease sales. The project, expected to supply power to one million homes, faces uncertainty despite commitments from partner EDF-RE Offshore Development. Shell's nearly $1 billion investment loss highlights the challenges in the U.S. offshore wind sector, particularly given the current political landscape and the significant costs associated with offshore wind energy, which requires robust policy support to attract investors.

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Shell Withdraws from New Jersey Offshore Wind Project, Citing Market Changes and Regulatory Environment - Pano News