By Bobby Magill: July 20, 2018
If Royal Dutch Shell Plc wins a federal lease to build an offshore wind farm in New England this fall, the company will be the first oil major with experience drilling in U.S. waters to enter the fledgling domestic offshore wind market. Shell’s interest in U.S. offshore wind development is seen within the industry as marking a shift toward the mainstream of the domestic energy sector, as offshore wind strengthens ties with the oil industry while harnessing one of the nation’s largest untapped sources of carbon-free electricity.
An oil major with U.S. experience could help accelerate offshore wind development and demonstrate the strength of an entirely new domestic renewable energy industry, Liz Burdock, executive director of the Business Network for Offshore Wind, told Bloomberg Environment. “When a market leader such as Shell indicates its interest publicly, it shifts offshore wind from the peripheral to a major investment opportunity that captures people’s attention,” she said. FULL ARTICLE
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