Shell has confirmed its intention to enter the UK’s offshore wind market with plans to bid for a seabed lease when it is tendered in the coming months. As part of efforts to boost its clean power portfolio, Shell also said it could bid for Dutch energy company Eneco with Dutch pension fund manager PGGM. The company said that while there was no certainty about how much of the £20bn annual cost would be covered by taxpayers, it expected to make an initial investment of around £2bn. The strategy has already proved successful in the US and further progress would form part of Shell’s efforts to spend between $1bn and $2bn annually on green technology.
Shell has confirmed its intention to enter the UK’s offshore wind market with plans to bid for a seabed lease when it is tendered in the coming months. The company said that while there was no certainty about how much of the £20bn annual cost would be covered by taxpayers, it expected to make an initial investment of around £2bn. The strategy has already proved successful in the US and further progress would form part of Shell’s efforts to spend between $1bn and $2bn annually on green technology.