Shell New Energies US LLC, a subsidiary of Shell plc, has divested its 50% stake in the SouthCoast Wind project, a 2.4-GW offshore wind development off the coast of Massachusetts, to its joint venture partner Ocean Winds North America. The move marks Shell's exit from the 50/50 joint venture, reflecting its strategy to refine its portfolio of renewable generation projects.
“In-line with our Powering Progress strategy, Shell continues to hone our portfolio of renewable generation projects in key markets where we have an advantaged position,” said Glenn Wright, Senior Vice President, Shell Energy Americas. “We are grateful to Ocean Winds for their years of partnership within this venture, and continue to seek opportunities to provide more energy, with fewer emissions.”
The SouthCoast Wind project, previously known as Mayflower Wind Energy LLC, was established by Shell and EDP Renovaveis SA in 2018. After EDPR merged with Engie SA to create Ocean Winds, the new entity acquired a 50% stake in Mayflower Wind and later renamed the project in early 2023.
Located approximately 30 miles south of Martha's Vineyard and 23 miles south of Nantucket, Massachusetts, the SouthCoast Wind project has evolved from a 1.6 GW to a 2.4 GW development. In 2023, the project reached an agreement with Massachusetts utilities to terminate power off-take contracts for 1.2 GW of supply, allowing it to re-bid in the state's next offshore wind solicitation round.
Despite the divestment from SouthCoast Wind, Shell maintains its presence in the US offshore wind sector through its 50-50 partnership with EDF-RE in the Atlantic Shores project, which focuses on developing wind farms off the coasts of New Jersey and New York.
