Shell’s got cold feet on wind and solar

Yesterday, ICIS News reported that Shell is focusing more on biofuels and carbon capture and storage (CCS) for their renewables project rather than wind and solar where according to Shell’s downstream director Mark Williams, “Wind and Solar have struggled to compete even with substantial subsidies.”

A Reuters report expounded that Shell doesn’t plan to make any more large investments in wind and solar energy in the future and even said that “they do not expect hydrogen to play an important role in energy supply for some time.”

Shell (and BP) pulled out of of their wind investments in the UK last year. Reuters said Shell invested around $1.25bn in green energy from 1999-2006 with wind energy accounting for a large part of that investment.



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