Shell Joint Venture Atlantic Shores Granted Right To Power New Jersey Residents With Renewable Wind Energy

ATLANTIC CITY, N.J., June 30, 2021 /PRNewswire/ -- Today The New Jersey Board of Public Utilities issued an order giving Atlantic Shores Offshore Wind (Atlantic Shores), the 50-50 joint venture between EDF Renewables North America and Shell New Energies US LLC (Shell), the right to provide clean offshore wind energy to power the state of New Jersey. Through a rigorous bid and selection process, Atlantic Shores won the rights to provide 1.5 gigawatts (GW) of renewable offshore energy, enough energy to power over 700,000 homes.

Subject to a future investment decision, once constructed Atlantic Shores will develop and operate in a lease area located approximately 10-20 miles off the coast of New Jersey between Atlantic City and Barnegat Light. In addition, Atlantic Shores has pledged a range of comprehensive job training, academic, community and manufacturing initiatives to boost the local economy and communities.

"This win by Atlantic Shores progresses Shell's investment in renewable power and the communities we serve," said James Cotter, GM of US Offshore Wind. "Shell remains confident about the future of offshore wind and this latest achievement will help us deliver on our low carbon ambitions and help to provide more of the clean power options that the world needs."

Shell's target is to be a net-zero emissions energy business by 2050, in step with society's progress towards achieving net-zero. As part of the measures to fulfill its targets, Shell is progressing its wind business by building on a foundation of offshore experience and leveraging operational excellence, including safety and cost-efficiency, with positive community and regulatory relationships.

Notes to editors:

• Shell's interest with Atlantic Shores is an opportunity to provide offshore wind energy to the northeast United States, which is quickly becoming the nation's leading geography in the pursuit of offshore wind power. New Jersey has set one of the most ambitious Renewable Portfolio Standards in the country by requiring 35% of the energy sold in the state to come from qualifying energy sources by 2025 and 50% by 2030.
• Atlantic Shores is Shell's second significant entry into US offshore wind. In 2018, Mayflower Wind Energy LLC, a joint venture with Shell and Ocean Winds, won leasing rights to submit projects to the Bureau of Ocean Energy Management (BOEM) to provide offshore wind energy to Massachusetts. Once constructed, subject to a future investment decision, the lease area could generate approximately 2 GW of clean electricity each year. Combined, Shell and its partners would provide enough renewable energy to power over 1.2 million homes in the northeast US.
• On February 11, 2021, Shell set forth its Powering Progress strategy, including details of how it will achieve its target to be a net-zero emissions energy business by 2050, in step with society's progress as it works towards the Paris Agreement goal of limiting the increase in the average global temperature to 1.5°C.
• For more details on Shell's Powering Progress strategy, please visit www.shell.com/poweringprogress.
• For more details on Shell's climate target, please visit www.shell.com/climatetarget.

Cautionary note

The companies in which Royal Dutch Shell plc directly and indirectly owns investments are separate legal entities. In this press release "Shell", "Shell Group" and "Group" are sometimes used for convenience where references are made to Royal Dutch Shell plc and its subsidiaries in general. Likewise, the words "we", "us" and "our" are also used to refer to Royal Dutch Shell plc and its subsidiaries in general or to those who work for them. These terms are also used where no useful purpose is served by identifying the particular entity or entities. ''Subsidiaries'', "Shell subsidiaries" and "Shell companies" as used in this press release refer to entities over which Royal Dutch Shell plc either directly or indirectly has control. Entities and unincorporated arrangements over which Shell has joint control are generally referred to as "joint ventures" and "joint operations", respectively.  Entities over which Shell has significant influence but neither control nor joint control are referred to as "associates". The term "Shell interest" is used for convenience to indicate the direct and/or indirect ownership interest held by Shell in an entity or unincorporated joint arrangement, after exclusion of all third-party interest.

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SOURCE Shell

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