By Maitane Sardon

Royal Dutch Shell PLC (RDSB.LN) said Tuesday that it has signed an agreement to buy Eolfi, a French renewable-energy company that specializes in developing floating wind farms.

The move comes as oil-and-gas companies look for ways to diversify their power production to meet sustainable investors' demands for business strategies consistent with the Paris Agreement on climate change, which requires nations to strengthen their actions to limit global warming.

The acquisition, which will be completed in December, is part of Shell's plan to expand its renewable-power business and to grow its offshore-wind business in France.

Write to Maitane Sardon at maitane.sardon@wsj.com

(END) Dow Jones Newswires

November 05, 2019 05:27 ET (10:27 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
Grafico Azioni Shell (LSE:SHEL)
Storico
Da Mar 2024 a Apr 2024 Clicca qui per i Grafici di Shell
Grafico Azioni Shell (LSE:SHEL)
Storico
Da Apr 2023 a Apr 2024 Clicca qui per i Grafici di Shell