Shell Sells Its Half Of SouthCoast Wind To Joint Venture Partner
By GILDA GEIST, published both online 3/22/24 and in The Falmouth Enterprise printed edition, page 2.
Up until Wednesday, March 20, the SouthCoast Wind project was a 50/50 joint venture between Shell New Energies and Ocean Winds. Now, Ocean Winds has acquired full ownership of the project, a press release from Ocean Winds states.
“Ocean Winds continues a partnership strategy in the US and intends to bring in a new 50% partner ahead of the final investment decision for SouthCoast Wind,” the press release says.
SouthCoast Wind was first created in 2018 with the goal of constructing a 2,400-megawatt wind farm in federal waters south of Martha’s Vineyard. The company is eyeing shores in Falmouth Heights and Somerset as locations to make landfall, so it can connect to the electric grid. The Falmouth Heights plan has been met with pushback from town residents and officials.
“Ocean Winds and SouthCoast Wind are intensely focused on the joint procurement process for offshore wind energy being undertaken by Connecticut, Rhode Island and Massachusetts and completing permitting and development of this clean energy project,” Ocean Wind’s North America Chief Executive Officer Michael Brown said.
Shell corporate relations manager Tim Frost was not immediately available for comment on why Shell left the joint venture.