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Shell (SHEL), Eneco to Build 760MW Dutch Offshore Wind Farm
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Shell plc’s (SHEL - Free Report) joint venture with the Dutch energy company Eneco has been granted the permit to build a wind farm with a capacity of 760 megawatts (MW) in the North Sea offshore the Netherlands.
The wind farm at the Hollandse Kust Site VI, situated around 50 kilometers (31 miles) west of the Dutch coast, is anticipated to be operational in 2026. Per the Dutch government, the 54 turbines in the offshore wind farm are expected to supply roughly 3% of the total electricity demand of the Netherlands by 2026, sufficient to power nearly a million households.
Wael Sawan, the director of Integrated Gas, Renewables and Energy Solutions, stated that this joint venture is a huge step in growing Shell’s offshore wind portfolio while making a positive contribution to biodiversity. He added, “Through this project, we can profitably accelerate the large-scale roll-out of offshore wind in the Netherlands and beyond.”
Shell is one of the primary oil supermajors, a group of U.S. and Europe-based big energy multinationals with operations spanning worldwide. The company is fully integrated as it participates in every aspect related to energy, from oil production to refining and marketing.
The Zacks Consensus Estimate for DCP’s 2022 earnings stands at $4.47 per share, which indicates an increase of about 181.1% from the year-ago loss of $1.59.
DCP beat estimates for earnings in three of the trailing four quarters, the average being around 25.5%.
The consensus estimate for Patterson’s 2022 earnings is pegged at 54 cents per share, suggesting an increase of about 128% from the year-ago loss of $1.93.
PTEN beat estimates for earnings in three of the trailing four quarters, the average being around 169.2%.
The Zacks Consensus Estimate for Par Pacific’s 2022 earnings stands at $7.51 per share, which indicates an increase of about 536.6% from the year-ago loss of $1.72.
The consensus mark for PARR’s 2022 earnings has been revised upward in the past 60 days from $5.67 to $7.51 per share.
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Shell (SHEL), Eneco to Build 760MW Dutch Offshore Wind Farm
Shell plc’s (SHEL - Free Report) joint venture with the Dutch energy company Eneco has been granted the permit to build a wind farm with a capacity of 760 megawatts (MW) in the North Sea offshore the Netherlands.
The wind farm at the Hollandse Kust Site VI, situated around 50 kilometers (31 miles) west of the Dutch coast, is anticipated to be operational in 2026. Per the Dutch government, the 54 turbines in the offshore wind farm are expected to supply roughly 3% of the total electricity demand of the Netherlands by 2026, sufficient to power nearly a million households.
Wael Sawan, the director of Integrated Gas, Renewables and Energy Solutions, stated that this joint venture is a huge step in growing Shell’s offshore wind portfolio while making a positive contribution to biodiversity. He added, “Through this project, we can profitably accelerate the large-scale roll-out of offshore wind in the Netherlands and beyond.”
Shell is one of the primary oil supermajors, a group of U.S. and Europe-based big energy multinationals with operations spanning worldwide. The company is fully integrated as it participates in every aspect related to energy, from oil production to refining and marketing.
Shell currently carries a Zacks Rank #3 (Hold). Investors interested in the energy space might look at some better-ranked stocks — DCP Midstream Partners , Patterson-UTI (PTEN - Free Report) and Par Pacific (PARR - Free Report) — each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for DCP’s 2022 earnings stands at $4.47 per share, which indicates an increase of about 181.1% from the year-ago loss of $1.59.
DCP beat estimates for earnings in three of the trailing four quarters, the average being around 25.5%.
The consensus estimate for Patterson’s 2022 earnings is pegged at 54 cents per share, suggesting an increase of about 128% from the year-ago loss of $1.93.
PTEN beat estimates for earnings in three of the trailing four quarters, the average being around 169.2%.
The Zacks Consensus Estimate for Par Pacific’s 2022 earnings stands at $7.51 per share, which indicates an increase of about 536.6% from the year-ago loss of $1.72.
The consensus mark for PARR’s 2022 earnings has been revised upward in the past 60 days from $5.67 to $7.51 per share.