Shell New Energies US LLC (Shell), a subsidiary of Shell plc, has sold its 50% equity share in SouthCoast Wind Energy LLC (SouthCoast Wind) to joint venture partner Ocean Winds North America LLC (Ocean Winds), according to a news release.
Terms of the transaction were not disclosed.
SouthCoast Wind is a 50-50 joint venture between Shell and Ocean Winds, established to develop offshore wind projects off the coast of Massachusetts.
“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.”
This deal was structured to simultaneously sign and close, with an immediate effective date.
SouthCoast Wind is developing a proposed offshore wind farm in US federal waters about 30 miles south of Martha’s Vineyard and 23 miles south of Nantucket, Massachusetts with an approximate capacity of 2,400 MW via Lease OCS-A 0521, which covers 127,388 acres. Formerly named Mayflower Wind Energy LLC, this joint venture was established in 2018.
Ocean Winds is a 50-50 offshore wind joint venture owned by EDP Renewables and ENGIE.
In the U.S., Shell is a 50-50 partner in an additional offshore wind joint venture, Atlantic Shores Offshore Wind LLC (Atlantic Shores), with EDF-RE Offshore Development, LLC. Atlantic Shores is developing a portfolio of wind farms off the coast of New Jersey and New York.
