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Shell to buy power from world’s ‘largest offshore wind farm’


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ShellIt announced Wednesday that it has signed an agreement to buy power from the development, which is being called “the largest offshore windfarm in the world.”

This 15-year agreement covers 240 megawatts of Dogger Bank C. It is the final and third phase of Dogger Bank Wind Farm’s 3.6 gigawatt Dogger Bank Wind Farm. The Dogger Bank Wind Farm will be situated in the waters offshore of northeast England.

Based on an agreement to purchase 480 MW of Dogger Bank A and Bo, the combined offtake is now 720 MW.

On Wednesday, Dogger Bank Wind Farm announced it had also agreed 15-year power purchase agreements for Dogger Bank C with Centrica Energy Marketing & Trading, SSE Energy Supply Limited and Danske Commodities.

According to it, “The third-phase wind farm will be selling green energy through commercial power arrangements into the GB electricity marketplace when it is commercially available.”

Dogger Bank A & B is a joint venture of EquinorSSE Renewables EniThese companies have stakes of 40, 40%, and 20 percent, respectively.

Eni will also purchase a 20% interest in Dogger Bank C. Equinor or SSE Renewables would each retain a portion of 40 percent. It is expected that the deal will be finalized in the first quarter (2022).

Dogger Bank Wind Farm claims that Dogger Bank Wind Farm will become the world’s largest offshore windfar when all three phases are completed by March 2026.

Shell is still a dominant player in oil and natural gas, despite making renewable energy deals. The company has pledged that it will become an energy provider with net-zero emission by 2050.

The February issue of the business confirmed its total oil production had peaked in 2019It stated that it expects its total carbon emissions will peak in 2018 at 1.7 metric gigatons annually.

This landmark decision was made earlier in the year. a Dutch court ordered Shell to take much more aggressive actionReduce carbon emissions, and to reduce by 45% their levels by 2030, compared with 2019 levels.

This was the first time that a company had been legally required to conform its policies to the 2015 Paris Agreement. Shell appeals the decision, which has been strongly criticized by climate activists.

Dan Loeb, a billionaire activist investor and financier called for the company to be broken up into several companies in October to increase its market performance.

Shell accepted Loeb’s request to the clients to dissolve the company, and said it regularly reviews and evaluated the Company’s strategy to generate shareholder value. Shell encourages dialogue with shareholders including Third Point as part of its ongoing review and evaluation process.

Recently, it was mid-November. Shell said it would move its head offices to the U.K. from the Netherlands• To eliminate the dual share structure. These plans would see the company’s name change to Shell plc from Royal Dutch Shell plc.

Andrew Mackenzie (chair of the company) stated that the simplification “will normalise the share structure in the tax and legal jurisdictions from a single nation and make us more competive.”

—CNBC’s Sam Meredith and Chloe Taylor contributed to this article.