Shell pulls out of offshore power project

Shell has pulled out of a project to build a massive wind park off the coast of Zuid-Holland province, the Financieele Dagblad reports on Thursday.

The move is the first concrete sign of Shell’s plans to reduce its investments in wind energy announced earlier this year.
The offshore project was a joint venture with power company Nuon and aimed to produce enough energy for 325,000 households. The project is still awaiting formal government approval.

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