Shell said Thursday that it no longer expected the wind farm to produce the returns it expected and would take a $996 million loss. The lease states that the first year’s rent was $550,000, with ...

Beachgoers in Sea Girt, New Jersey, where a power cable from the Atlantic Shores offshore wind farm project is projected to come ashore. Inset: U.S. President Donald Trump. Associated Press Shell ...

EDF says write down against US offshore wind project it co-owns with Shell follows 'significant evolutions' in policy ...

French state-owned EDF announced its exiting the project. The announcement comes three weeks after Shell announced it was withdrawing from the joint venture.

it’s unlikely offshore wind farms will be a part of Murphy’s legacy. Energy giant Shell paused its deal with Atlantic Shores Thursday. BPU’s announcement Monday ended further bids on ...

Days after oil and gas giant Shell backed out of New Jersey’s first offshore wind farm pointing to financial reasons, the state on Monday did not award any bids for a fourth round of ...

Shell told The Associated Press it is writing ... and identify any legal reasons to terminate them. Large offshore wind farms have been making electricity for three decades in Europe, and more ...

France’s state-owned electricity firm EDF said Friday it had decided to write down the value of its stake in a major US ...

EDF has acknowledged that the project is now worth less than it was previously and reflected this loss in their financial ...

Energy giant Shell wrote off its 50% stake in Atlantic Shores, choosing to take a $1 billion impairment instead of complete the 2,800 megawatt wind farm. New Jersey’s Board of Public Utilities ...