The Shell-Ocean Winds joint venture (JV) behind Massachusetts’ 1.2GW SouthCoast Wind array will petition to withdraw the project due to declining economics and lack of financing.

The JV joins fellow Massachusetts developer, Iberdrola-controlled Avangrid, in seeking to rebid a project into the state’s upcoming round 4 tender. Avangrid filed a petition with the state utility regulator, Department of Public Utilities (DPU) late last year to withdraw its 1.2GW