Shell eyeing 45% sale of its stake in $1.4bn Dutch offshore windfarm projects

By Johan De Mulder

Royal Dutch Shell is looking to sell up to 45% of its stake in two major Dutch offshore windfarm projects, according to reports.

The energy giant, along with its partners Eneco Holdings and Mitsubishi Corp, wants to recoup nearly half of the money it invested in the 700MW farms off the coast of Zeeland only last year.

It represented Shell's first venture into large-scale offshore wind development, though it could adopt a similar scaling-back strategy once initial investment has been made in future projects.

See also:

With the completion of the project to cost $1.4bn, a 45% stake could be worth approximately $630mn.

"This is part of a planned assessment by the consortium on how to best fund the project and future offshore wind projects for the long term," Eneco said in a statement Monday, which Shell said it and the other partners endorsed.

"Offshore wind projects require substantial capital. We are in the energy transition for the long-haul."


Featured Articles

Top 10 most innovative telecom operators in the Middle East

With Dubai-based Telecoms World Middle East in full swing, we chart the most innovative telcos from the region – and look at how they are transforming

Top 10 fastest-growing Indian companies in the UK

Business Chief takes a look at the top 10 fastest-growing Indian companies in the UK, according to the India Meets Britain Tracker from Grant Thornton

Top 10 workplaces prioritising people and planet in the UAE

Sustainable, flexible, collaborative, tech-driven, and amenities-rich, the office of the future considers both people and planet – here are 10 in the UAE

Top 10 female HR execs leading Saudi’s workplace transition

Leadership & Strategy

Top 10 largest asset managers by AUM operating in the UAE

Corporate Finance

Top 10 female CEOs leading Africa’s biggest businesses

Leadership & Strategy