EDF Paying $215 Million for New Jersey Offshore Wind-Farm Lease

Dec. 20, 2018, 7:00 PM

EDF Renewables North America bought a lease to develop a wind farm off the New Jersey coast though a joint venture with a Royal Dutch Shell Plc unit.

The site about seven miles (11 kilometers) from Atlantic City is big enough to install as much as 2,500 megawatts of turbines, according to a Dec. 20 statement. EDF, a unit of Electricite de France SA, agreed to pay $215 million plus a deferred variable payment to US Wind, a unit of Italy’s Toto Holding SpA.

EDF plansto develop the wind farm through a 50-50 joint venture with Shell New Energies ...

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