We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Shell (RDS.A) Signs Amazon's Single-Largest Renewable Energy Deal
Read MoreHide Full Article
Royal Dutch Shell Plc reached an agreement with Amazon.com Inc. (AMZN - Free Report) to provide renewable power from its offshore wind farm to the latter’s European facilities.
Currently in development, the offshore wind farm referred to as the Hollandse Kust Noord (“HKN”) is located along the coast of the Netherlands and is operated by the Crosswind Consortium. Notably, the consortium is a joint venture between Shell and renewable firm Eneco, owned by Japan-based Mitsubishi Corporation.
Per the terms of the deal, Shell will provide electricity from the wind farm, located 18.5 kilometers off the coast of Dutch, with a total production capacity of 759 megawatts (MW). Amazon is purchasing more than 50% of the overall capacity to power its European facilities and accomplish its aim of becoming net-zero emission company by 2040. The HKN offshore wind farm is expected to come online in 2023.
Amazon will initially extract 380 MW of renewable power, of which 250 MW will be drawn off from Shell and 130 MW from Eneco. Notably, the renewable power extraction is expected to commence in 2024 as the retail giant expects to attain its clean energy target five years early. Moreover, providing renewable power to Amazon enables Shell to fulfill its aim of becoming a net-zero emissions business by 2050 or sooner.
On its part, the agreement, which is known to be Amazon’s largest single-site renewable energy project at present, facilitates its plans to get to net-zero emissions by 2040. Importantly, it also upholds Shell’s ambition to reduce the carbon intensity of its business for a low-carbon future.
Company Profile & Price Performance
Shell is one of the primary oil majors — a group of U.S. and Europe-based energy giants with global operations. The company is fully integrated, as it participates in every aspect related to energy from oil production to refining and marketing.
Shares of the company have outperformed the industry in the past three months. Its stock has gained 25.2% compared with the industry’s 22.8% growth.
Zacks Rank & Other Stocks to Consider
Shell currently flaunts a Zack Rank #1 (Strong Buy).
Geopark’s earnings for 2021 are expected to increase 206% year over year.
EOG’s earnings for 2021 are expected to increase 198% year over year.
+1,500% Growth: One of 2021’s Most Exciting Investment Opportunities
In addition to the stocks you read about above, would you like to see Zacks’ top picks to capitalize on the Internet of Things (IoT)? It is one of the fastest-growing technologies in history, with an estimated 77 billion devices to be connected by 2025. That works out to 127 new devices per second. Zacks has released a special report to help you capitalize on the Internet of Things’s exponential growth. It reveals 4 under-the-radar stocks that could be some of the most profitable holdings in your portfolio in 2021 and beyond.
Image: Bigstock
Shell (RDS.A) Signs Amazon's Single-Largest Renewable Energy Deal
Royal Dutch Shell Plc reached an agreement with Amazon.com Inc. (AMZN - Free Report) to provide renewable power from its offshore wind farm to the latter’s European facilities.
Currently in development, the offshore wind farm referred to as the Hollandse Kust Noord (“HKN”) is located along the coast of the Netherlands and is operated by the Crosswind Consortium. Notably, the consortium is a joint venture between Shell and renewable firm Eneco, owned by Japan-based Mitsubishi Corporation.
Per the terms of the deal, Shell will provide electricity from the wind farm, located 18.5 kilometers off the coast of Dutch, with a total production capacity of 759 megawatts (MW). Amazon is purchasing more than 50% of the overall capacity to power its European facilities and accomplish its aim of becoming net-zero emission company by 2040. The HKN offshore wind farm is expected to come online in 2023.
Amazon will initially extract 380 MW of renewable power, of which 250 MW will be drawn off from Shell and 130 MW from Eneco. Notably, the renewable power extraction is expected to commence in 2024 as the retail giant expects to attain its clean energy target five years early. Moreover, providing renewable power to Amazon enables Shell to fulfill its aim of becoming a net-zero emissions business by 2050 or sooner.
On its part, the agreement, which is known to be Amazon’s largest single-site renewable energy project at present, facilitates its plans to get to net-zero emissions by 2040. Importantly, it also upholds Shell’s ambition to reduce the carbon intensity of its business for a low-carbon future.
Company Profile & Price Performance
Shell is one of the primary oil majors — a group of U.S. and Europe-based energy giants with global operations. The company is fully integrated, as it participates in every aspect related to energy from oil production to refining and marketing.
Shares of the company have outperformed the industry in the past three months. Its stock has gained 25.2% compared with the industry’s 22.8% growth.
Zacks Rank & Other Stocks to Consider
Shell currently flaunts a Zack Rank #1 (Strong Buy).
Some other top-ranked players in the energy space are Geopark Ltd (GPRK - Free Report) , presently sporting a Zacks Rank #1, and EOG Resources, Inc. (EOG - Free Report) , carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Geopark’s earnings for 2021 are expected to increase 206% year over year.
EOG’s earnings for 2021 are expected to increase 198% year over year.
+1,500% Growth: One of 2021’s Most Exciting Investment Opportunities
In addition to the stocks you read about above, would you like to see Zacks’ top picks to capitalize on the Internet of Things (IoT)? It is one of the fastest-growing technologies in history, with an estimated 77 billion devices to be connected by 2025. That works out to 127 new devices per second. Zacks has released a special report to help you capitalize on the Internet of Things’s exponential growth. It reveals 4 under-the-radar stocks that could be some of the most profitable holdings in your portfolio in 2021 and beyond.
Click here to download this report FREE >>