Shell pushes the Dutch government to come up with larger offshore wind targets and proposes to set a target of 20 GW offshore wind by 2030. The company wants to invest more in renewables and will ramp up to US$1bn per year until the end of the decade.
Shell created its New Energies division in 2016 to invest in renewables and low-carbon power generation. Shell New Energies had US$1.7bn of capital investment as of May 2016 and plans to spend US$200m per year.
In the meantime, Shell published its 2016 sustainability report and announced the production of 1,232 GWh of total wind energy generation for the previous year, mainly in the United States and the Netherlands.
Shell entered the wind onshore US business back in 2001 and as of 2016, the company had 6 operational wind projects in North America and Europe with a total installed capacity of 420 MW. At the end of 2016, a consortium including Shell, Eneco, Van Oord and Mitsubishi subsidiary Diamond Generating Europe won a tender to build and operate 2 wind farms in the Borssele 3 & 4 wind park with a total future capacity of 680 MW.
In December 2016, Shell reported it had invested in Kite Power Systems (a company specialized in wind power) along with Schlumberger and E.ON and also entered into an offtake agreement regarding 100% of the Egmond aan Zee offshore wind park, in which it currently holds a 50% stake.
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