Friday, April 08, 2011

"Shell has pulled out of renewables"

Shell's outgoing UK chairman has seen oil firm's role shift in a changing climate | Business | The Guardian
Smith saw that Shell would have to change and he led the group's programme to invest in renewable energy, building up stakes in plant-based biofuels and offshore wind energy. But these days those programmes – once held up by the company as evidence of its newfound caring, environmentally friendly image – are either defunct or largely irrelevant. Shell has pulled out of renewables: it retains a small stake in biofuels development, but the company's offshore wind business is no more. Shell announced in May 2008 that it was leaving the consortium building the world's biggest offshore wind farm, the London Array, and its interests in wind were in effect at an end.

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