Share Name Share Symbol Market Type Share ISIN Share Description
Shell Plc LSE:RDSB London Ordinary Share GB00B03MM408 'B' ORD EUR0.07
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 1,894.60 1,900.40 1,901.40 0.00 01:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 132,052.6 -19,723.5 -203.3 - 69,299

Shell Signs Power Purchase Deal With World's Largest Offshore Wind Farm

24/11/2021 8:21am

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Shell (LSE:RDSB)
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By Jaime Llinares Taboada


Royal Dutch Shell PLC said Wednesday that it has signed a 15-year power purchase agreement for electricity from Dogger Bank, the world's largest offshore wind farm.

The oil-and-gas major has secured a 20% power share from the third phase of Dogger Bank, or Dogger Bank C. Each phase has a capacity of 1.2 gigawatts, and is expected to generate around 6 terawatt-hours of electricity a year. The wind farm is located off the northeast coast of England.

Including existing agreements for Dogger Bank A and B, Shell has now secured 720 megawatts of the farm's anticipated capacity of 3.6 gigawatts. Construction is expected to complete in 2026.

Dogger Bank is owned by SSE PLC, Equinor ASA and ENI SpA.

SSE said Wednesday that it has signed separate power purchase agreements for Dogger Bank C. In addition to Shell's 20% share, Danske Commodities has agreed to buy 40% of the electricity generated on behalf of Equinor, SSE Energy Supply Ltd. will acquire 20% on behalf of SSE, and Centrica PLC will take the remaining 20%.

These deals are subject to the developers reaching a financial close for the third phase of Dogger Bank, which is expected by the end of the year.


Write to Jaime Llinares Taboada at; @JaimeLlinaresT


(END) Dow Jones Newswires

November 24, 2021 03:06 ET (08:06 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

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