Atlantic Shores Offshore Wind Awarded N.J. Board of Public Utilities Contract to Develop 1,510MW in Offshore Wind Energy, Largest Single Project in New Jersey

In addition to affordable, renewable energy for over 700,000 homes, Atlantic Shores’ project includes millions of dollars in key investments in New Jersey workers, leading academic institutions, environmental and community organizations; the creation of a nacelle assembly facility; the launch of an innovative green hydrogen pilot and more

Over lifespan of the project, the wind project is expected to create thousands of well-paying jobs

ATLANTIC CITY, N.J.–(BUSINESS WIRE)–Today, the New Jersey Board of Public Utilities awarded Atlantic Shores Offshore Wind (Atlantic Shores) a contract to develop 1,510 Megawatt (MW) in offshore wind energy, enough to power over 700,000 homes. Atlantic Shores is a 50-50 joint venture between EDF Renewables North America and Shell New Energies US, and its Lease Area is located approximately 10-20 miles off the coast of New Jersey between Atlantic City and Barnegat Light. In total, the 1510 MW project will bring $848 million in guaranteed local economic benefits to the state. This is the largest single project in New Jersey and the third largest in the United States.

“Thank you to the Board of Public Utilities for their thorough and well-run process. We are thrilled to be moving forward with our project and cementing our commitment to deliver clean, renewable power and well-paid jobs to the Garden State for years to come,” said Joris Veldhoven, Commercial and Finance Director at Atlantic Shores. “As offshore wind prepares to take off in the United States, this is a critical moment to lay the groundwork for workforce training and supply chain development. Our robust project includes a number of essential initiatives to train local workers and bring manufacturing jobs to the state that will ensure New Jersey workers and the local economy reap tremendous benefits.”

Atlantic Shores’ project, which aims to begin construction in 2024, includes a number of essential investments and initiatives, including an agreement to train and hire local workers for the construction and maintenance of the wind project, an innovative 10 MW green hydrogen pilot with South Jersey Industries and a turbine nacelle assembly center to the New Jersey Wind Port. Over its lifetime, the wind project will create thousands of well-paying jobs.

“This award is a win for workers across New Jersey who will be poised to lead in our state’s offshore wind and the burgeoning green economy as a result of Atlantic Shores’ commitment to job training,” said Greg Lalevee, Business Manager at International Union of Operating Engineers Local 825. “Union labor built New Jersey, and now it will build its offshore wind industry as well.”

Mike Renna, SJI president and chief executive officer, said, “South Jersey Industries is excited to be part of Atlantic Shores’ winning project to develop 1510MW in clean, renewable wind energy for our state. Our partnership on a green hydrogen pilot project will be essential to unlocking additional decarbonized energy sources for New Jersey and diversifying our renewable energy mix. We look forward to collaborating on this innovative project, making New Jersey a national leader in the green economy.”

Atlantic Shores’ project also includes a number of investments in New Jersey’s top academic institutions, including Rutgers University, Stockton University and Rowan College, to cultivate the next generation of industry leaders.

“Atlantic Shores has shown us again and again that they are committed to New Jersey communities, and this award cements that commitment for decades to come,” said Joseph Brodie, Offshore Wind Research Lead with the Rutgers University Center for Ocean Observing Leadership. “Our students and scientists benefit greatly from our partnership on cutting-edge environmental and ecological research in and around Atlantic Shores’ Lease Area. As the offshore wind industry takes off in our state, we hope to continue building our essential partnership to advance scientific understanding of the climate, renewable energy, animal migration, our marine ecosystem and more.”

About Atlantic Shores Offshore Wind, LLC:

Atlantic Shores Offshore Wind, LLC is a 50/50 partnership between Shell New Energies US LLC and EDF Renewables North America. The joint venture formed in December 2018 to co-develop a 183,353 acre Lease Area located approximately 10-20 miles off the New Jersey coast between Atlantic City and Barnegat Light. Atlantic Shores is strategically positioned to meet the growing demands of renewable energy targets in New York, New Jersey and beyond, with strong and steady wind resources close to large population centers with associated electricity demand. Our Lease Area, once fully developed, has the potential to generate over 3,000 MW (3 GW) in wind energy and power nearly 1.5 million homes. The capital and expertise needed to develop such a large area is significant. Together, Shell and EDF Renewables have the investment capability and industry experience to bring this project to scale safely, efficiently and cost effectively. For more info: www.atlanticshoreswind.com.

Contacts

Julia Ofman, julia.ofman@berlinrosen.com, 646 246 8211