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Oil majors moving into offshore wind farm industry
They're scoring victories against leading power suppliers in competitive auctions for power purchase contracts
Returns from wind farms are predictable and underpinned by government- regulated electricity prices; fossil fuel executives want to get a piece of the clean-energy business as forecasts emerge that renewables will eat into their market.
PHOTO: BLOOMBERG
London
BIG Oil is starting to challenge the biggest utilities in the race to erect wind turbines at sea.
Royal Dutch Shell plc, Statoil ASA and Eni SpA are moving into multibillion-dollar offshore wind farms in the North Sea and beyond. They're starting to score victories against...
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