Shell sells stake in photovoltaic venture to Saint-Gobain

14 August 2009 15:32  [Source: ICIS news]

TORONTO (ICIS news)--Shell has sold its 50% stake in photovoltaic joint venture Avancis to partner Saint-Gobain, the Anglo-Dutch oil major said on Friday.

The move was part of Shell’s strategy to focus on alternative energies and technologies such as biofuels, carbon capture and storage, which were in line with its core competencies, it said.

Financial terms were not disclosed.

Avanics has a 20-megawatt peak (MWp) plant at Torgau, Germany.

Saint-Gobain is a diversified French industrial group with activities in glass, construction products, high-performance materials and packaging.

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By: Stefan Baumgarten
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