EDF Renewables partners with Shell to invest in offshore wind in New Jersey

Recently, EDF Renewable North America and Shell New Energy America, Inc.
, announced that they have formed a 50/50 joint venture, Atlantic Shores Offshore Wind, LLC, to jointly develop the OCS-0499 lease area
within the New Jersey Wind Energy District.
The leased area has the potential to generate about 2,500 megawatts of offshore wind, enough to power
nearly a million homes.
The transaction is subject to regulatory approval, and construction is subject to
final investment decisions.

The lease includes 183353 acres of land approximately 8 miles off the coast of Atlantic City on the outer continental shelf of the United States
.
The region offers strong and stable wind resources in relatively shallow waters, close to population centers, and associated power demand
.

"Shell is ambitiously committed to growing our renewable energy business and we see great potential
in offshore wind in the United States.
Acquiring this area in New Jersey complements
our successful entry into Massachusetts and existing renewable energy generation businesses.
With our brand strength and global reach, we can continue to provide customers with more and cleaner energy
.
”

"This opportunity supports EDF Group's goal to double global renewable capacity to 50 gigawatts
by 2030," said EDF Renewable North America's President and CEO.
It solidifies EDF Renewable Energy's ambition to leverage its extensive experience in the European offshore wind market in the emerging US market
.
As the cost of offshore wind falls, the U.
S.
offshore wind industry is advancing rapidly, with strong federal and state support
.
Through jobs and supply chain opportunities, the industry is well-positioned to contribute meaningfully to
the New York and New Jersey economies.
”

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