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If you heard the sound of a joy from the Bronx coming from New Jersey on January 30, it was the Atlantic Shores company which exploded the order to stop the Trump administration. Atlantic Shores began his life as a 50-50 joint venture between two of the world’s largest energy companies on the planet, and one of them intends to take front with 2.8 gigawatts of offshore wind energy in New Jersey.
Winds Offshore Farm to Trump: you can’t wish me
The high -level enemies of the president have folded like a card house after another, and Atlantic Shores could possibly go in this direction. For the moment, however, only one partner of the company 50-50, Shell, has abandoned the ghost. Shell would have withdrawn the file on January 30 and would have canceled its $ 1 billion investment.
This leaves the other partner, EDF-Re offshore Development, to hold the fort. EDF-RE is the aegis of a diversified energy company with Global Reach, the French firm EDF.
With EDF in his pocket, Atlantic Shores may have the resources necessary to lead a battle on the legal authority of Trump’s offshore wind closure, the result of an executive decree having an impact on projects in federal lands and waters . The wind turbine industry can continue to take advantage of private property and public lands under non -federal jurisdiction, but the offshore industry depends almost exclusively on rental areas in federal waters.
“Atlantic Shores is engaged in New Jersey and the delivery of the first offshore wind project by Garden State,” said Atlantic Shores in a brief press release published on her website on January 30, after the news of Shell circulated.
“Although we cannot comment on the opinions of shareholders, Atlantic Shores intends to continue to progress in the first offshore wind project in New Jersey and to our portfolio in accordance with our obligations towards premises, state and federal existing leases and relevant permits, “they added.
Several press organizations have also cited another version of the declaration which includes an additional paragraph, indicating that Atlantic Shores is there for the long term:
“Business plans, projects, portfolio projections and glasses are evolving over time – and as planned for major infrastructure projects with high capital intensity like ours, our shareholders have always prepared strategies to strategies long term that envisage multiple scenarios that allow Atlantic Shores to reach its full potential potential. “”
Another does not give up, never go to the American offshore wind industry
Cleantechnica overturned a lot of ink on the ups and downs of the American offshore wind industry, and New Jersey is a case of soldier’s case through the stockings. The state offshore industry was about to lead the avant-garde of offshore development during the Obama administration, to be slowed down to death under the direction of the governor of the time, Chris Christie.
A little ironically, after Christie left office, the Trump administration paved the way for a new explosion of activity under the new Governor Phil Murphy. When President Joe Biden took office in 2021, he inherited an offshore rental system freshly rationalized under the wing of the Ocean Energy Management Office of the Interior Department. The result was a torrent of new offshore leases published during his mandate, including a new set of projects for New Jersey and New York (see much more offshore fund here).
Atlantic Shores is not the only offshore wind investor to play the long game in the New York – New Jersey Arena. Equinor, for example, has already closed funding of $ 3 billion for the construction of a pre-assembly site and sprawling 73 acres in Brooklyn, which is already in progress.
Equinor closed the financing tour for the onshore facilities, even if it has canceled the plans for its Offshore Ocean I and II wind farms, indicating that the company is still preparing for a renaissance of the American offshore industry after Trump has left his functions at the Crack of 2029.
Meanwhile, the fate of the plan of planned wind turbine in New Jersey in Paulsboro has been in the air since last year, when the Danish firm Ørsted announced that it was withdrawn from two wind projects.
Nevertheless, New Jersey continued to lay the foundations for the next rebirth of wind energy. The state set a goal of 11 gigawatts by 2040, long after Trump’s release. Last year, the construction of the transmission connection for offshore wind farms was still underway, under the vigilant eye of the New Jersey National Guard.
What is the next step for the global offshore wind industry
Despite Shell’s release, EDF-RE has a good case to stand in your arms. The plans began to froze in 2022 for a combined total of 2.8 gigawatts of offshore wind of the Atlantic Shores I and II, located off the Côtes d’Atlantique. In October, Boem Greenlight was the start of construction, an opportunity that Atlantic Shores celebrated with the support of traditional environmental organizations in New Jersey.
On the other hand … Well, if Trump succeeds in abandoning the interest of the nation to develop an entirely new energy industry, the stakeholders of the offshore wind are more than ready to pack their bags and take their business elsewhere.
In a recent development, BP and the Japanese Jera firm announced a new Offshore 50-50 windreprise last December, targeting a total of 13 gigawatts under the name of Jera Nex BP.
“BP and Jera Co., Inc. have agreed to combine their offshore wind companies to form a new autonomous joint venture and also belonging to the property which will become one of the greatest developers, owners and world operators”, announced the two companies In a press release dated December 9, adding that “Jera Nex BP should benefit from the existing relationships and partnerships that the two shareholders have worldwide, including throughout the supply chain.”
Partners have already undertaken to reach up to $ 5.8 billion in capital funding for offshore projects before the end of 2030. It is an interesting turn. From last fall, BP announced that it reduced its renewable energy companies, but the Jera partnership indicates that it is testing an alternative investment model.
Do not hold your breath for Jera Nex BP to make an appearance in the United States. The company aims at rich offshore wind markets in Australia as well as its combined home lawn in Japan and the northwest of Europe.
To end on a high note, a bright point in the United States wind industry could be Louisiana, where waters under the jurisdiction of the state should accommodate two wind farms, without interference from the Trump administration – for The moment, that is to say.
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Image (cropped): The American offshore developer Atlantic Shores is always determined to move forward with plans for two projects in federal waters off New Jersey, Trump or No Trump (graciousness of Atlantic Shores).
https://www.youtube.com/watch?v=Thkbcuzi6t4
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