Royal Dutch Shell has pulled out of the London Array, the world's largest proposed offshore wind farm. Environmental groups and politicians criticized Shell for its decision to put its one-third stake in the £2bn project, which is projected to generate 1gw of emission-free energy—enough to power a quarter of London households—up for sale.

The announcement was made days after Shell revealed it had earned $7.7bn profit in the first quarter of 2008. In its annual $27bn investment program, renewable energy is barely visible. The Environment Secretary Hilary Benn called the decision "very disappointing. A lot of people would want to understand why this was the case... in a week in which the company announced record profits."

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Source: Business Week