Shell mulls options for offshore wind expansion in Australia - report

British oil giant Shell Plc (LON:SHEL) is weighing options for developing an offshore wind project in Australian waters as it aims to further expand its operations in the country, the Australian Financial Review reports.

A spokesperson for the company has confirmed for the newspaper that Shell is looking to "transform" its Aussie portfolio and is considering opportunities for investing in an offshore wind project. While an exact location for the scheme has not been given yet, the oil and gas major is believed to have set sights on the waters off Gippsland, Victoria, that were recently proposed to accommodate Australia’s first zone for offshore wind deployment.

Shell is reportedly reviewing two sites within the specific area.

Gippsland has become the hot spot for project developers, including the likes of Copenhagen Infrastructure Partners and Corio Generation. According to local media reports, the Bass Strait Gippsland region has so far been viewed as the potential home to more than 6 GW of projects.

In line with a plan to build a low-carbon integrated power business in Australia, Shell agreed to purchase a 49% stake in WestWind Energy Development Pty Ltd in March. The Aussie firm has permitted 2 GW of wind projects and has an additional 3 GW of renewable energy schemes in the pipeline, to be progressed in the next few years.

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