British oil and gas giant Shell announced a few days ago the abandonment of two floating wind farm projects in the North Sea off the coast of Scotland, as part of its strategy to refocus its activities on oil and gas to boost its profits.
Shell has ended its participation in the MarramWind and CampionWind projects "following a strategic review", a spokesman told AFP, adding that the group now has no new offshore wind projects in Scotland.
The oil giant has backtracked in recent years on some of its climate goals to refocus on hydrocarbons. As part of this strategy, it had already announced in December 2024 that it would no longer develop any new offshore wind farm projects.
In detail, the group "ceded its 50% stake" in the MarramWind project to its partner ScottishPower, a subsidiary of the Spanish company Iberdrola, in exchange for which it became "the sole owner of CampionWind", according to a press release.
"After a thorough review and in line with the previously announced refocusing of Shell's energy strategy (...) it has been decided not to pursue the CampionWind project," the group continued.
Shell also abandoned in September the construction of a biofuel plant in the Netherlands, which had begun in 2022, deeming the project "not competitive enough".
Shell reported a profit increase of nearly a quarter in the third quarter at the end of October, driven by improved margins and sales volumes since the beginning of the year.
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