Global energy giant Shell announced Thursday that it has withdrawn from the Atlantic Shores offshore wind project in New Jersey, another huge blow to the state’s ambitious renewable energy plans. The announcement,

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continue to shift in the offshore wind sector, Shell disclosed during a quarterly earnings call Jan. 30 that it had withdrawn from the planned Atlantic Shores Offshore Wind project.

Shell Plc said it has written off almost $1 billion and withdrawn from a US offshore wind farm as President Trump seeks to stymie the industry’s development with executive orders.

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,