In Win for Trump, Shell Quits N.J. Offshore Wind Farm
In the first serious fallout from President Donald Trump's early actions against offshore wind power, oil and gas giant Shell is walking away from a major project off the coast of New Jersey.
Shell told The Associated Press it is writing off the project, citing increased competition, delays and a changing market.
“Naturally we also take regulatory context into consideration,” spokesperson Natalie Gunnell said in an email.
Shell co-owns the large Atlantic Shores project, which has most of its permits and would generate enough power for 1 million homes if both of two phases were completed. That’s enough for one-third of New Jersey households.