Shell Plc said it has written off almost $1 billion and withdrawn from a US offshore wind farm as President Donald Trump seeks to stymie the industry’s development with executive orders.

Global energy giant Shell announced Thursday that it has withdrawn from the Atlantic Shores offshore wind project in New Jersey, another huge blow to the state’s ambitious renewable energy plans.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

Atlantic Shores, a joint venture between Shell Plc and France's EDF, reiterated its commitment to delivering New Jersey's first offshore wind project on Thursday, despite Shell's recent $1 billion write-off related to the venture.

On a fourth quarter earnings call Jan. 30, Shell plc told analysts that the company was pausing its involvement in the Atlantic Shores offshore wind farm project. The company said it will take a $956 million write-off.

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,