Ocean Winds acquires 50% equity share in SouthCoast Wind Energy LLC
Shell New Energies US LLC (Shell), 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 (Ocean Winds).
SouthCoast Wind is a 50-50 joint venture between Shell and Ocean Winds, established to develop offshore wind projects off the coast of Massachusetts.The JV is developing a proposed offshore wind farm in US federal waters about 30 miles south of Martha's Vineyard and 23 miles south of Nantucket, Massachusetts with an approximate capacity of 2,400 MW via Lease OCS-A 0521, which covers 127,388 acres. Formerly named Mayflower Wind Energy LLC, this joint venture was established in 2018
This deal was structured to simultaneously sign and close, with an immediate effective date.
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