Shell Ditches Massachusetts Wind Project Like a Bad Tinder Date, Because Who Needs Renewable Energy When You’ve Got Oil?

Posted by John Donovan: 21 March 2024

In a move as shocking as discovering water is wet, Shell has decided to say “Thank U, Next” to its 50% stake in SouthCoast Wind Energy, leaving the offshore wind project off the coast of Massachusetts faster than a college student leaving their morals at spring break. The lucky recipient of Shell’s fleeting affection? Its joint venture partner, Ocean Winds North America LLC, who probably swiped right without realizing what they were getting into.

Glenn Wright, Senior Vice President at Shell Energy Americas, put on his best corporate speak to dress up the decision, saying, “In-line with our Powering Progress strategy, Shell continues to hone our portfolio of renewable generation projects in key markets where we have an advantaged position.” Translation: “We’re breaking up with renewables that don’t make us enough money or let us flex our fossil fuel muscles.”

The offshore wind industry, having faced the kind of drama usually reserved for reality TV—cost increases, quality control scandals worthy of a daytime soap, and more delays and cancellations than a budget airline—has apparently spooked Shell into reconsidering its relationship status with clean energy.

But let’s not act surprised; this isn’t Shell’s first ghosting rodeo. Just last month, it announced its intention to dump its 80% stake in the MunmuBaram project in South Korea faster than you can say “renewable energy commitment.” And let’s not forget the for-sale sign Shell slapped on a quarter of its U.S. solar assets, because nothing says “committed to net-zero by 2050” like selling off your clean power projects.

Despite all this, Shell had the audacity to reiterate its goal of being a net-zero energy business by the magical year of 2050, all while easing its carbon intensity target for 2030. Because, in Shell’s world, prioritizing value over volume in power means focusing on markets where they can continue to sell the dream of clean energy without actually having to commit to it.

Last year, in a move that could only be described as “it’s not you, it’s me,” Shell agreed to sell its retail home energy businesses in the UK and Germany to Octopus Energy Group. This is all part of its grand strategy to only play in sandboxes where it can throw its weight around and possibly bury any real progress in renewable energy deep where no one can find it.

So, here’s to Shell, the heartbreaker of the renewable energy world, proving once again that old habits die hard, especially when those habits are rooted in oil and gas. Cheers to the future, or whatever’s left of it after Shell’s done with it.

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