Winds of change: Shell ditches renewable stake amid fears of a retreat to carbons

The future of the world’s largest offshore wind farm and a symbol of Britain’s renewable energy future was thrown into doubt last night after it emerged that Shell was backing out of the project and indicated it would prefer to invest in more lucrative oil schemes.

Shell said the decision to sell its 33% stake in the £2bn London Array off the coast of Kent was part of an “ongoing review of projects and investment choices” and was not part of any major rethink about renewables versus other oil and gas projects.

Read more

Source: The Guardian Newspaper

Related posts:

1. Shell ‘selling suicide’ by preferring tar sands to wind
2. Shell being accused on influencing environmental audit to get funding
3. Shell goes cold on wind, solar, hydrogen energy
4. Is this the end of the road for first gen biofuels?
5. Shell faces Dutch lawsuit over Nigerian oil spills

Tagged as: gas projects, london array, oil, renewables, shell. csr, wind energy