By Jaime Llinares Taboada

 

Royal Dutch Shell PLC said Wednesday that it has agreed to acquire a 51% stake in a project to develop a floating wind farm in the Celtic Sea, off the south coast of Ireland.

The Anglo Dutch oil major said the deal was reached with Irish developer Simply Blue Energy, which will remain as operator of the project.

The wind farm is initially expected to have an installed capacity of 300 megawatts, but there is potential to scale-up the project to 1 gigawatt.

Shell is one of the largest oil and gas companies in the world, but has set an ambition to become a net-zero emissions business by 2050 or sooner.

 

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

 

(END) Dow Jones Newswires

January 27, 2021 05:44 ET (10:44 GMT)

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