Press Release
Luminant and Shell Join Forces to Develop a Texas-Sized Wind Farm
27/07/2007
Project to deliver low-cost wind energy for consumers
HOUSTON - Shell WindEnergy Inc. and Luminant, a subsidiary of TXU Corp., announced today a joint development agreement for a 3,000-megawatt wind project in the Texas Panhandle and to work together on other renewable energy developments in Texas.
Shell and Luminant will also explore the use of compressed air storage, in which excess power could be used to pump air underground for later use in generating electricity. This technology will further improve reliability and grid usage and becomes more economical with large-scale projects, such as proposed for Briscoe County.
Recent testimony by Shell before the Public Utility Commission of Texas demonstrated the Briscoe County project could deliver the lowest-cost wind energy for consumers. This low cost is driven by excellent wind resources and the comparatively lower cost to bring that energy to market from the Texas Panhandle region.
"Shell is constantly looking for solutions to deal with climate change and increasing our energy diversity. Wind is part of the answer. Our approach is a cost-effective solution for consumers," said John Hofmeister, president of Shell Oil Company.
"Luminant is committed to providing Texans with clean sources of energy, and this agreement with Shell is a real next step in delivering on that commitment" said Mike Childers, CEO of Luminant Development. "Luminant is already the state leader in wind-energy purchases, and co-developing this project would take us a long way toward our goal of doubling our portfolio."
About Shell
Shell WindEnergy Inc. is a subsidiary of Shell Oil Company. "Shell WindEnergy" refers to the companies of the Royal Dutch Shell PLC that are engaged in the pursuit and development globally of businesses related to wind power generation. Each of the companies that make up the Royal Dutch Shell PLC is an independent entity and has its own separate identity. Principal offices of Shell WindEnergy are located in The Hague, the Netherlands, with a regional base in Houston . For further information, please visit www.shell.com/wind.
Shell Oil Company, including its consolidated companies and its share in equity companies, is one of America's leading oil and natural gas producers, natural gas marketers, gasoline marketers and petrochemical manufacturers. Shell, a leading oil and gas producer in the deepwater Gulf of Mexico, is a recognized pioneer in oil and gas exploration and production technology. Shell Oil Company is an affiliate of the Shell Group, a global group of energy and petrochemical companies, employing approximately 109,000 people and operating in more than 130 countries and territories.
About Luminant
Luminant, a subsidiary of TXU Corp., is a competitive power generation business, including mining, wholesale marketing and trading, construction and development operations. Luminant has over 18,300 MW of generation in Texas , including 2,300 MW of nuclear and 5,800 MW of coal-fueled generation capacity. Luminant is also the largest purchaser of wind-generated electricity in Texas and fifth largest in the United States . TXU Corp. is a Dallas-based energy holding company that has a portfolio of competitive and regulated energy subsidiaries, primarily in Texas . Visit www.txucorp.com for more information about Luminant and TXU Corp.
INQUIRIES:
Shell Oil Company: Shell Media Line: +1 (713) 241-4544
Luminant: Tom Kleckner: +1 (214).812.3206
Disclaimer statement:
This document contains forward-looking statements concerning the financial condition, results of operations and businesses of Royal Dutch Shell. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are statements of future expectations that are based on management's current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Forward-looking statements include, among other things, statements concerning the potential exposure of Royal Dutch Shell to market risks and statements expressing management's expectations, beliefs, estimates, forecasts, projections and assumptions. These forward-looking statements are identified by their use of terms and phrases such as ''anticipate'', ''believe'', ''could'', ''estimate'', ''expect'', ''intend'', ''may'', ''plan'', ''objectives'', ''outlook'', ''probably'', ''project'', ''will'', ''seek'', ''target'', ''risks'', ''goals'', ''should'' and similar terms and phrases. There are a number of factors that could affect the future operations of Royal Dutch Shell and could cause those results to differ materially from those expressed in the forward-looking statements included in this Report, including (without limitation): (a) price fluctuations in crude oil and natural gas; (b) changes in demand for the Group's products; (c) currency fluctuations; (d) drilling and production results; (e) reserve estimates; (f) loss of market and industry competition; (g) environmental and physical risks; (h) risks associated with the identification of suitable potential acquisition properties and targets, and successful negotiation and completion of such transactions; (i) the risk of doing business in developing countries and countries subject to international sanctions; (j) legislative, fiscal and regulatory developments including potential litigation and regulatory effects arising from recategorisation of reserves; (k) economic and financial market conditions in various countries and regions; (l) political risks, project delay or advancement, approvals and cost estimates; and (m) changes in trading conditions. All forward-looking statements contained in this document are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. Readers should not place undue reliance on forward-looking statements. Each forward-looking statement speaks only as of the date of this document. Neither Royal Dutch Shell nor any of its subsidiaries undertake any obligation to publicly update or revise any forward-looking statement as a result of new information, future events or other information. In light of these risks, results could differ materially from those stated, implied or inferred from the forward-looking statements contained in this document.
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