Shell has withdrawn from plans to develop two offshore wind farms off the Scottish coast. The company had been involved in two joint ventures with Iberdrola’s ScottishPower Renewables to develop the CampionWind and MarramWind projects.
After a swap of stakes, Shell became sole owner of CampionWind but has now returned the lease to Crown Estate Scotland, according to a statement sent to Bloomberg. The leases for both projects were awarded in the 2022 ScotWind auction. Since then, costs for offshore wind projects have increased significantly, particularly for floating wind technology, which both projects were expected to use. ScottishPower Renewables will continue developing the larger of the two sites, the 3 GW MarramWind project off the northeast coast.
