- Shell is set to invest $564m in the Brazilian clean energy market.
- Shell also plans to increase its solar portfolio to 5GW by the end of the year.
Oil and gas giant Royal Dutch Shell Plc has set its sights on investing R$3 billion ($564m/€480m) through 2025 in Brazil’s clean energy market. This will also fund the development of clean energy projects in the country. Shell made this known during the launch of Shell Energy, the company’s decarbonisation, environmental products and renewable energy projects division. According to Shell’s head of renewable development for Latin America, Gabriela Oliveira, the oil company plans to increase its Brazillian solar energy portfolio to 5GW by the end of 2021.
Currently, Shell has six solar projects with a combined capacity of over 2GW. Oliveira also notes that Shell plans to inaugurate an offshore wind development campaign this year. According to the director of Renewables and Energy Solutions at Shell Brasil and Shell Energy, Guilherme Perdigao added, the company will also be looking to invest in clean energy joint ventures.