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IRAN Energy News Agency

Shell Target Opportunities in Power Sector

Shell is to increase the capital allocated to its new energies division, which includes offshore wind, to $1-2 billion a year until 2020.

Oil company Shell is to “continue to target opportunities” in the power sector and will increase the capital allocated to its new energies division, which includes offshore wind, to $1-2 billion a year until 2020.

The UK-Dutch company made the announcement at the end of last month, as part of a wider strategy update. It also
announced plans to cut the net carbon footprint of its energy products by around half by 2050, setting an interim target of 20% by 2035.

Shell is part of the Blauwind consortium, which together with Eneco, Mitsubishi Corp subsidiary Diamond Generating Europe and Van Oord, won the right to develop the 740MW Borssele 3 and 4 offshore wind farms in the Netherlands.

 

News Code: 
12006
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