Shell buys 49% stake in Australian wind energy developer

Oil and gas major Shell will buy a 49 percent stake in Australia’s WestWind Energy to support its development of wind energy projects in Australia, the companies said on Tuesday.

“Our first wind investment in Australia is a significant step in our goal to build a low carbon integrated business in Australia, in line with our customers’ evolving energy needs,” said Shell Australia Country Chair Tony Nunan.

Under the partnership, WestWind said it plans to deliver “significantly faster” the existing 3,000 MW pipeline of renewable energy capacity across NSW, Victoria, and Queensland.

“In partnership with Shell, we can accelerate our development of wind energy projects in Victoria and grow our NSW and Queensland portfolio. We will now be able to grow our team to undertake a larger number of projects, and progress them faster,” said WestWind Energy Australia Managing Director, Tobias Geiger.

The new partnership is said to entirely focus on future projects. The companies did not disclose the amount of this partnership.

Despite being one of the top gas producer in Australia, Shell also has different investments within Australia such as green energy retailer Powershop and Select Carbon.