Shell New Energies US LLC, 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.
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.
