EDF has reduced the value of its stake in the Atlantic Shores wind energy project off the coast of New Jersey by €900 million. This move follows Shell’s withdrawal from the project. The decision comes as a result of significant shifts in United States offshore wind policy, which prompted the company to review its operations.
EDF chief executive Luc Remont explained during a conference call with journalist of Agence France-Presse that the evolving policy environment led the board to reassess its offshore strategy. He noted that the revised approach is intended to secure the company’s long-term sustainability and support future development
