Climate Changed
Shell to Seek Sale of Stake in $1.4 Billion Wind Farm
- Company and partners may cut wind-farm ownership by up to 45%
- Group won the 700-megawatt project in auction last year
A jack-up rig stands near to Teesside Offshore Wind Farm, operated by EDF Energy Renewables Ltd., in Hartlepool, U.K., on Wednesday, May 3, 2017. The wind farm has a capacity of 62.1 megawatts.
Photographer: Matthew Lloyd/BloombergThis article is for subscribers only.
Royal Dutch Shell Plc and its partners Eneco Holdings NV and Mitsubishi Corp. are seeking to sell a stake in two Dutch offshore wind-farm projects that may cost $1.4 billion to develop, two people familiar with the plan said.
The companies are looking to reduce their ownership in the Borssele III and IV wind farms by as much as 45 percent, according to the people who asked not to be named because they aren’t authorized to speak about it publicly. The fourth partner, infrastructure contractor Van Oord NV, is keeping its share of the project.