Shell New Energies and EDF Renewables North America have established a 50/50 joint venture (JV), Atlantic Shores Offshore Wind, to jointly develop the OCS-0499 offshore wind lease area within the New Jersey Wind Energy Area (WEA) in the United States. The area is located in relatively shallow waters and is estimated to hold the potential to generate approximately 2,500 MW of wind power, which is enough to power about 1 million homes. The transaction remains subject to the required regulatory approvals and the construction of the project is subject to positive final investment decision (FID). Works will begin shortly on a site assessment plan followed by formal development efforts. The two companies believe that the wind park could be operational by the mid-2020s.
This move supports EDF's ambitious plans to double its global renewable capacity to 50 GW by 2030 and increases its foothold on the emerging US offshore wind market. This is also a significant move for Shell as well and its second key US offshore wind project announcement in less than a month. The company holds a 50% share in Mayflower Wind Energy, the provisional winner of the offshore wind block OCS-A 0521 in Massachusetts. The lease area was attributed in December 2018 and is expected to accommodate a total generation capacity of approximately 1,600 MW.
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