Oil company Shell (www.shell.com) 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.