Shell PLC (NYSE:SHEL) shares are trading lower premarket Thursday. The company reportedly may pull out of an ongoing tender for Norway’s first commercial offshore wind farm on concerns over project’s profitability.
Shell, which is part of a consortium with two local Norwegian utilities, has applied for pre-qualification to build Norway’s first bottom-fixed offshore wind farm at Soerlige Nordsjoe II, in the North Sea, reported Reuters.
Notably, as per the report, the tender comprises building bottom-fixed wind turbines with a capacity of 1.5 gigawatts (GW), which ...