Shell ‘to cut stake in offshore wind project, says Bloomberg

Shell and partners Eneco Holdings and Mistubishi are looking to sell a stake in two Dutch offshore wind farm projects that may cost $1.4bn to develop, US news agency Bloomberg reported on Tuesday.

The companies hope to reduce their ownership in the Borssele III and IV wind farms by as much as 45%, while a fourth partner, Dutch dredging company Van Oord, plans to keep its share of the project, according to the report.

None of the companies have disclosed their specific stakes in the project or their outlook for the total investment required, but Shell reportedly could hold a 50% interest, Bloomberg said.

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