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Royal Dutch Shell (RDS.A) Inks 15-Year Power Purchase Accord
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Royal Dutch Shell plc announced an agreement with Dogger Bank. The deal is related to a power purchase agreement for electricity for 15 years.
The 15-year accord comprises the purchase of 240 megawatts (MW) from Dogger Bank C. Notably, Dogger Bank Wind Farm is located off the northeast coast of England and Dogger Bank C is the third and final phase of the 3.6-gigawatt farm. According to Dogger Bank Wind Farm, with the completion of three phases – Dogger Bank A, B and C -- likely by March 2026, it will be the world’s largest offshore wind farm.
With the inclusion of the previous 480 MW of power purchase deal with Dogger Bank A and B, Royal Dutch Shell will be purchasing a combined of 720 MW of power. In Dogger Bank A and B, Equinor ASA (EQNR - Free Report) has 40% stakes, while the remaining 40% and 20% interests are being shared by SSE Renewables and Eni SpA (E - Free Report) . It has also been recently announced that in Dogger Bank C, Eni will be taking a 20% stake.
The latest deal of Royal Dutch Shell justifies the integrated energy major’s inclination toward clean energy. Royal Dutch Shell is leading the energy transition with a bold target of becoming a net-zero-emission player by 2050 or earlier. Also, ownership interests in Dogger Bank reveal Equinor and Eni’s strong focus on renewable energy.
Both Equinor and Eni are exploring alternatives to capitalize on the mounting clean energy demand since the world is emphasizing alternative energy mainly to protect the climate.
Equinor is planning to increase its renewable energy capacity by 2026 drastically. By 2030, Equinor is planning to make its global operations carbon neutral. In its overall operations, Eni increasingly involves green energies. To accelerate the energy transition and promote renewable energy, Eni entered into a three-year partnership deal with International Renewable Energy Agency (IRENA) on Sep 30.
Currently, Royal Dutch Shell and Equinor carry a Zacks Rank #3 (Hold), while Eni sports a Zacks Rank #1 (Strong Buy). One prospective player in the energy space is Whiting Petroleum Corporation , with a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Whiting Petroleum is a leading upstream energy company and is the top producer of crude oil in North Dakota. With oil price improving at a healthy pace, Whiting Petroleum expects to generate handsome cashflows while maintaining a healthy balance sheet.
Headquartered in Denver, CO, Whiting Petroleum has witnessed upward earnings estimate revisions for 2021 in the past 30 days. Looking at the price chart, WLL has gained 180.8% year to date, outpacing the 110.3% improvement of the composite stocks belonging to the industry.
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Royal Dutch Shell (RDS.A) Inks 15-Year Power Purchase Accord
Royal Dutch Shell plc announced an agreement with Dogger Bank. The deal is related to a power purchase agreement for electricity for 15 years.
The 15-year accord comprises the purchase of 240 megawatts (MW) from Dogger Bank C. Notably, Dogger Bank Wind Farm is located off the northeast coast of England and Dogger Bank C is the third and final phase of the 3.6-gigawatt farm. According to Dogger Bank Wind Farm, with the completion of three phases – Dogger Bank A, B and C -- likely by March 2026, it will be the world’s largest offshore wind farm.
With the inclusion of the previous 480 MW of power purchase deal with Dogger Bank A and B, Royal Dutch Shell will be purchasing a combined of 720 MW of power. In Dogger Bank A and B, Equinor ASA (EQNR - Free Report) has 40% stakes, while the remaining 40% and 20% interests are being shared by SSE Renewables and Eni SpA (E - Free Report) . It has also been recently announced that in Dogger Bank C, Eni will be taking a 20% stake.
The latest deal of Royal Dutch Shell justifies the integrated energy major’s inclination toward clean energy. Royal Dutch Shell is leading the energy transition with a bold target of becoming a net-zero-emission player by 2050 or earlier. Also, ownership interests in Dogger Bank reveal Equinor and Eni’s strong focus on renewable energy.
Royal Dutch Shell PLC Price
Royal Dutch Shell PLC price | Royal Dutch Shell PLC Quote
Both Equinor and Eni are exploring alternatives to capitalize on the mounting clean energy demand since the world is emphasizing alternative energy mainly to protect the climate.
Equinor is planning to increase its renewable energy capacity by 2026 drastically. By 2030, Equinor is planning to make its global operations carbon neutral. In its overall operations, Eni increasingly involves green energies. To accelerate the energy transition and promote renewable energy, Eni entered into a three-year partnership deal with International Renewable Energy Agency (IRENA) on Sep 30.
Currently, Royal Dutch Shell and Equinor carry a Zacks Rank #3 (Hold), while Eni sports a Zacks Rank #1 (Strong Buy). One prospective player in the energy space is Whiting Petroleum Corporation , with a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Whiting Petroleum is a leading upstream energy company and is the top producer of crude oil in North Dakota. With oil price improving at a healthy pace, Whiting Petroleum expects to generate handsome cashflows while maintaining a healthy balance sheet.
Headquartered in Denver, CO, Whiting Petroleum has witnessed upward earnings estimate revisions for 2021 in the past 30 days. Looking at the price chart, WLL has gained 180.8% year to date, outpacing the 110.3% improvement of the composite stocks belonging to the industry.