• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 4 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 5 days The United States produced more crude oil than any nation, at any time.
  • 10 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 6 days How Far Have We Really Gotten With Alternative Energy
  • 11 days e-truck insanity
  • 9 days James Corbett Interviews Irina Slav of OILPRICE.COM - "Burn, Hollywood, Burn!" - The Corbett Report
  • 9 days The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 10 days Biden's $2 trillion Plan for Insfrastructure and Jobs
  • 10 days "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
Iraq Hopes to Expand Economic Relationship With the U.S.

Iraq Hopes to Expand Economic Relationship With the U.S.

Sudani wants to strengthen Baghdad’s…

Shell Considers Buying Dutch Green Energy Supplier

Shell is mulling over a bid for Dutch green energy company Eneco Group, which is active in wind, solar, and biomass, the Dutch newspaper De Telegraaf reported, citing sources from the banking industry.

While Shell declined to comment on the report, the daily said it had hired a U.S.-based bank to help it arrange the offer. But it is not alone in its plans for Eneco, according to the paper: French Total has also contacted advisors for a possible bid. And that’s just the Big Oil suitors. Telegraaf said there are a number of other potential suitors for the company, including French utility Engie, private equity fund CVC, and Mitsubishi.

Eneco Group is owned by 53 local councils in the Netherlands, more than two-thirds of which are in favor of a sale that could be worth more than US$3.6 billion (3 billion euro). However, not all are on board: 29 council that together hold an overwhelming majority of the shares in the company are asking for an extraordinary shareholders’ meeting on the grounds that they have lost faith in the company’s supervisory board.

Eneco operates onshore and offshore wind farms, a biomass power plant, and solar installations in the Netherlands, the UK, France, and Belgium, producing enough power to supply 850,000 households. Reports of shareholders’ plans to sell or list the company emerged last year.

The book value of the business is more than US$3.4 billion (2.9 billion euro) and it would make a good fit for Shell in its recently launched expansion into renewable energy that will see it invest up to US$2 billion every year on new energy sources over the period until 2020. Investment areas include EVs, biomass, and wind power. Over the longer term, Shell is ambitious to reduce the carbon footprint of its products by about 20 percent by 2035 and by 50 percent by 2050.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News