Shell could pull out of Norway’s first offshore wind tender due to concerns over the profitability of projects, a senior executive was reported as saying.

The oil giant in 2021 formed a partnership with Norwegian power groups Lyse and Eviny to compete in Norway’s debut tenders for fixed-bottom and floating wind.

But Shell’s Norway country manager Marianne Olsnes told an industry conference this week that the group “might not bid” in the contest for 1.5GW