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Oil company Shell is to “continue to target opportunities“ in the power sector and will increase the capital allocated to its new energies division. which includes offshore wind. to $1-2 billion a year until 2020.
The UK-Dutch company made the announcement at the end of last month. as part of a wider strategy update. It also announced plans to cut the net carbon footprint of its energy products by around half by 2050. setting an interim target of 20% by 2035.
Shell is part of the Blauwind consortium. which together with Eneco. Mitsubishi Corp subsidiary Diamond Generating Europe and Van Oord. won the right to develop the 740MW Borssele 3 and 4 offshore wind farms in the Netherlands.
