Atlantic Shores, a joint venture between Shell and France’s EDF, has reaffirmed its commitment to delivering New Jersey’s first offshore wind project despite Shell’s recent $1bn write-off related to the venture. The write-off was part of $2.2bn in impairments reported in Shell’s fourth-quarter earnings, as reported by Reuters.

On a fourth quarter earnings call Jan. 30, Shell plc told analysts that the company was pausing its involvement in the Atlantic Shores offshore wind farm project. The company said it will take a $956 million write-off.

As the political and economic winds continue to shift in the offshore wind sector, Shell disclosed during a quarterly earnings call Jan. 30 that it had withdrawn from the planned Atlantic Shores Offshore Wind project.

The announcement clouds the future of the Atlantic Shores Offshore Wind venture, a punching bag for President Donald Trump.

Shell has effectively withdrawn from New Jersey’s first offshore wind farm, Atlantic Shores — marking the latest major setback to the state’s clean energy ambitions. Spokespeople told NJ Advance Media on Thursday that the developer remained committed to the project.

Plc announced its withdrawal from the Atlantic Shores offshore wind farm project in the US, resulting in a write-off of nearly $1 billion. The decision was disclosed in the company's quarterly earnings report on Thursday,