- Coarsely chop stalks of 1 fennel bulb; core and finely chop bulb (you should have about 1 cup); chop fronds to yield ¼ cup; set aside. Peel and devein 1 pound shrimp; reserve shells. Cut shrimp into ¾-inch pieces; refrigerate until needed.
- Melt 4 tablespoons unsalted butter in large saucepan over medium-high heat. Add reserved shrimp shells and cook, stirring often, until shells begin to turn spotty brown, about 3 minutes. Stir in fennel stalks, 1 cup white wine, and 2 pounds mussels; bring to simmer. Cover saucepan and cook, stirring occasionally, until mussels open, about 5 minutes. Off heat, use tongs to transfer mussels to bowl (gathering any mussels that fall out of shells).
- Add 7 cups water to wine-shell mixture in saucepan and bring to boil over high heat. Reduce heat to low, cover, and cook for 10 minutes. Strain broth through fine-mesh strainer set over large bowl; discard solids. Return broth to saucepan, cover, and keep warm over low heat.
- Meanwhile, shell all but 8 mussels; reserve shelled and unshelled mussels separately.
- Melt 4 tablespoons butter in Dutch oven over medium heat. Stir in fennel bulb, 1 cup finely chopped onion, and 1 teaspoon table salt. Cover pot and cook, stirring occasionally, until vegetables are softened but not browned, 5 to 7 minutes. Stir in 2 tablespoons tomato paste and 3 minced garlic cloves and cook, uncovered, until fragrant, about 1 minute. Add 8 ounces squid (bodies sliced crosswise into ¼-inch-thick rings, tentacles cut in half) and cook, stirring often, until squid are opaque and fond just begins to form on bottom of pot, about 3 minutes.
- Stir in 2 cups arborio rice and cook until edges of grains are translucent, about 2 minutes. Add remaining 1 cup wine and cook, stirring often and scraping up any browned bits, until wine is absorbed, about 2 minutes. Stir in 5 cups warm broth and remaining 2½ teaspoons salt and bring to simmer. Reduce heat to medium-low and cook, stirring every 3 minutes, until broth is mostly absorbed and spoon leaves trail on bottom of pot that fills in slowly, 20 to 22 minutes.
- Stir in 1 cup broth and continue to cook, stirring constantly, until rice is al dente, about 3 minutes longer. Cut remaining 4 tablespoons butter into 4 pieces, then stir butter, shrimp, shelled mussels, 2 tablespoons fennel fronds, and 2 tablespoons chopped parsley into risotto. Cook, stirring constantly, until butter is incorporated, about 1 minute. Cover pot, remove from heat, and let sit until shrimp are cooked through, about 5 minutes.
- Adjust consistency with up to 1 cup additional broth as needed, about ¼ cup at a time, to achieve texture of loose oatmeal. Season with salt to taste. Gently press 8 unshelled mussels into top of risotto, hinge side down. Sprinkle with remaining 2 tablespoons fennel fronds. Serve with lemon wedges.
6 Comments