Wednesday, December 19, 2018

EDF Renewables, Shell In Joint Venture On 2500MW Offshore Wind Project

San Diego-based EDF Renewables North America, which develops renewable energy projects such as solar and wind farms and Shell New Energies US LLC (Shell), said late Wednesday that the two are in a 50/50 joint venture to develop wind farms off the shore of New Jersey. According to the two, the area has the potential to produce approximately 2,500 megawatts of offshore wind energy. Financial details of the joint venture were not announced. The two companies said they have leased 183,353 acres about eight miles off the coast of Atlantic City for wind farms. The area both has relatively shallow water, steady wind, and are close to large population centers. If built to capacity, the project would be a significant increase in EDF Renewables' offshore wind portfolio: the company says it currently has 2,800 MW of offshore wind in Europe. The New Jersey project would be its first in the U.S.

---