LONDON, Oct 19 (Reuters) – British oil major Royal Dutch Shell has denied a report that it has withdrawn from the UK wind energy sector by agreeing to sell its stake in a project off the Blackpool coast to partners Scottish Power and Denmark’s Dong Energy.
Posts on ‘October 19th, 2008’
Signals that UK offshore farms may not be profitable came in June when Shell pulled out of the consortium planning to build Britain’s biggest offshore farm, the London Array in the Thames Estuary, in favour of developing more profitable wind projects elsewhere. Then last week the government of Abu Dhabi stepped in to help the project after Royal Dutch Shell withdrew.
Applicants to the Shell Springboard fund are required to demonstrate that their product or service can help combat climate change, and is innovative and commercially viable enough to be worthy of a grant of between £20,000 and £40,000.
The decision will also anger environmentalists already critical of Shells push into dirty-fuel sources such as Canadas tar sands.