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Interview – Shell Netherlands CEO: More large wind projects wanted

Toby SterlingStefano Berra: OCTOBER 5, 2017

AMSTERDAM (Reuters) – As the Netherlands struggles to meet its renewable energy goals, Shell’s country chief executive sees its role as the architect of big, high-risk projects such as wind turbine farms — for the time being.

In an interview, Marjan van Loon said Shell had joined a coalition of companies urging the Dutch government to greatly increase its ambitions for offshore wind farms from its current plan for 5 tenders of 700 megawatt farms.

“We are pushing government, we want to do one to two gigawatts per year: let’s build, say, 20-30 gigawatts by the end of next decade,” she told Reuters.

Shell led a consortium that won the second of the 5 currently planned tenders in December 2016, for a subsidy of 54.50 euros per megawatt hour — at the time a record low.

Banking sources told Reuters on Tuesday that Shell has begun raising 1 billion euros in debt to finance the Borssele project, and consortium members are also seeking to sell an equity stake of around 40 percent.

Van Loon said the Shell’s sweet spot is in “financing, designing and technically operating” large projects, but after building them “there’s actually not that much technical risk anymore.” FULL ARTICLE

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