Big Oil Ready To Move On Ocean Wind

Oil and Gas Giants to Join Wind-Energy Battle, Says Dong CEO; Henrik Poulsen says companies such as Shell and Total are flooding the wind-energy industry with fresh competition

Elina Williams, May 13, 2016 (Wall Street Journal)

“The offshore wind-energy industry will soon be flooded by competition as big oil companies join utilities and small renewable players in the growing sector, said the chief executive of the world’s biggest offshore wind company, Dong Energy…Henrik Poulsen also said some new investment in offshore wind energy was coming from companies primarily associated with traditional oil and gas markets, like Royal Dutch Shell PLC, Eni SpA of Italy and Total SA France…Dong was once one of Europe’s most coal intensive utilities but the state-owned enterprise has steered its business away from coal and oil and gas extraction in the past decade toward offshore wind. The move has helped lift profits thanks to Europe’s significant wind power subsidies…[Dong] has a 26% share of the installed offshore wind-energy capacity in the world, more than twice as much as its nearest rival…” click here for more

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