British oil major Royal Dutch Shell Plc (RDSa.L:Quote, Profile, Research, Stock Buzz) confirmed on Sunday that the company and its partners have withdrawn from a major UK wind energy project.
Wind Farming
Shell consortium to pull out of UK wind project
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Shell to quit wind projects
Less than a month ago, Shell denied a Sunday Times report that it had exited the project. However, on Friday the company confirmed that it had no plans for further investment in the UK wind sector.
Will the hoped-for green jobs materialise?
Although BP and Shell have pulled out of the UK offshore market, others such as Masdar, the Abu Dhabi government's investment vehicle for sustainable energy, moved to fill the gap. Masdar acquired a 20 per cent stake in in the £2bn London Array offshore wind project after Shell walked away.
As Kermit the Frog observed, it’s not easy being green.
Royal Dutch Shell and Anglo American yesterday became the latest natural resources companies to shelve a clean energy scheme. Their joint A$5bn project in Australia to convert coal into liquid fuels may go ahead, eventually, but not with development costs this high and an oil price this low.
Stranded but not sunk amid a deepening financial storm
In May, Shell provoked uproar when it withdrew from the world's largest offshore windfarm - the London Array in the Thames Estuary - after the costs allegedly had risen from £1 billion in 2003 to £3 billion.
ScottishPower plans wind farms with Swedes
The Government is smarting from the withdrawal of a number of key players from the industry in Britain, including Shell and BP.
Lord Turner calls for wind and nuclear power in race to cut emissions
Last week, BP said that it was pulling out of a British CCS project and was abandoning the domestic wind energy industry altogether in search of higher returns in the United States. Other renewable energy projects are struggling under the twin burdens of high costs and a lack of finance. The weaker oil price has also undermined their economic attractiveness to lenders a
Shell says it will pay landowners’ legal bills
RENSSELAERVILLE Shell WindEnergy Inc. has offered to pay legal expenses for landowners in the Albany County hill towns who had considered leasing their land to Shell for two large wind farms.
Blow to Brown as BP scraps British renewables plan to focus on US
BP has dropped all plans to build wind farms and other renewable schemes in Britain and is instead concentrating the bulk of its $8bn (£5bn) renewables spending programme on the US, where government incentives for clean energy projects can provide a convenient tax shelter for oil and gas revenues.
Shell WindEnergy leaving Albany County
Now, the Houston company, a unit of Royal Dutch Shell, has mailed letters to landowners it had been negotiating with to say it is walking away from the project.
SSE in £308m wind farm deal with RWE
Yesterday's deal was a fillip for the offshore market, which took a blow this year when Shell pulled out of the biggest planned offshore wind farm, the London Array, amid spiralling costs. Dong Energy and Eon, the other partners in the London Array, found a new partner in Abu Dhabi's Masdar initiative last month.
Shell denies selling stake in UK wind farm
LONDON, Oct 19 (Reuters) - British oil major Royal Dutch Shell has denied a report that it has withdrawn from the UK wind energy sector by agreeing to sell its stake in a project off the Blackpool coast to partners Scottish Power and Denmark's Dong Energy.
Shell pulls out of its last UK wind farm project
The decision will also anger environmentalists already critical of Shells push into dirty-fuel sources such as Canadas tar sands.
Middle East Oil Invests in British Wind Project
The $4.75 billion project quickly became known as Londons disarray after Shell pulled out...
Wind farm plans saved by fund
The future of the proposed London Array wind farm was thrown into doubt in May when Shell, one of the three initial investors, pulled out of the project as the estimated cost rose from about £1bn to more than £2bn.
Gulf state rescues £3bn wind farm in the Thames Estuary
The Government of Abu Dhabi has stepped in to help to fund the worlds biggest offshore wind farm in the Thames Estuary after the withdrawal of Royal Dutch Shell from the project.
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