Shell to invest US$2bn in renewables business
13 April, 2018
Anglo-Dutch major Shell has announced that it will invest US$2bn (£1.4bn) every year to 2020 in its New Energies division.
The planned investment was outlined in its Energy Transition report which was published on Thursday 12 April.
The report details that the vast majority of the CAPEX will be spent on wind and solar projects.
Shell’s New Energy division was established in 2016.
The company led a consortium which won a tender in December 2016 for the 680MW Borssele III & IV offshore wind farm, located off the coast of Zeeland, the Netherlands.