Mayflower Wind draws from the deep experience and skills of its sponsor companies in successfully permitting, financing, constructing and operating offshore energy production facilities. Shell and Ocean Winds are willing and able players in the global energy transition, and see commercial opportunity in participating in the drive to provide more and cleaner energy solutions.
Shell has set itself an ambition to become a net-zero emissions energy business by 2050 or sooner. As part of the measures to fulfil this ambition, Shell is building an interconnected lower-carbon power business: from generating electricity, to buying and selling it, storing it and supplying directly to customers to power homes, businesses and vehicles. Wind is critical to Shell’s ambition to grow its lower-carbon power business. It enables Shell to generate renewable electricity in different parts of the world at scale. The total installed capacity of Shell’s wind portfolio and pipeline today is more than 5 gigawatts (GW). The Shell share of total installed capacity of both onshore and offshore wind is 290 megawatts (MW) with 2,196 MW in development.
Ocean Winds is the result of a joint venture announced in 2019 by EDP Renewables (EDPR) and ENGIE. Both companies share the vision in which renewables, particularly offshore wind, play a key role in the global energy transition. Ocean Winds (OW) has a strategic advantage and is well positioned to play a leading role in the offshore market. EDPR and ENGIE are combining their offshore wind assets and project pipeline under OW, beginning with 1.5 GW under construction and 4.0 GW under development, with the target of reaching 5-7 GW of projects in operation or construction and 5-10 GW under advanced development by 2025. OW’s primary target markets are in Europe, the United States and selected Asian countries, from where most of the growth is expected to come.