As it concentrates on fossil fuels, BP reduces its investment in wind turbines.

 

The action comes after competitor Shell said it will split its power sector into two interconnected companies and stop developing new offshore wind projects.

One of the main renewable energy sources that Europe is depending on to reduce the carbon footprint of its power generation.

Is offshore wind, but in recent years, projects have been hampered by supply chain problems and skyrocketing prices.

By the end of the third quarter of next year, the joint venture, which will be called Jera Nex BP, should be established. BP-planned projects off the British coast will be part of it.

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Today in History: The eradication of smallpox was announced on December 9.