Royal Dutch Shell Plc  .com Rotating Header Image

Shell Sells Wind-Project Stake

The Wall Street Journal Home Page

Shell Sells Wind-Project Stake

July 22, 2008; Page B8

The U.K. arm of German utility E.On AG and Denmark-based DONG Energy said they bought Royal Dutch Shell PLC’s stake in the U.K.’s London Array offshore wind project for an undisclosed sum, giving each company a half share in the project. Paul Golby, chief executive of E.On U.K., said the first phase of the project is on track to begin operation in 2012, subject to securing a number of important contracts, such as those for the wind turbines.

Before the deal, the three companies each held a one-third stake in the project. “We’re pleased that, together with DONG Energy, we’ve been able to secure the future of the project,” he said.

The announcement could help to boost confidence in the U.K. offshore wind sector, which is more costly and riskier than onshore wind and took a battering after Shell said in May that it was pulling out to invest in U.S. onshore wind instead.

The U.K. is counting on offshore wind to provide the bulk of the power needed to help meet a binding European Union target to get 15% of the country’s total energy from renewable sources by 2020.

This website and sisters,,,, and, are owned by John Donovan. There is also a Wikipedia segment.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Comment Rules

  • Please show respect to the opinions of others no matter how seemingly far-fetched.
  • Abusive, foul language, and/or divisive comments may be deleted without notice.
  • Each blog member is allowed limited comments, as displayed above the comment box.
  • Comments must be limited to the number of words displayed above the comment box.
  • Please limit one comment after any comment posted per post.