Shell to Invests $565 Million in Brazilian Renewable Energy Through 2025

PVTIME – Shell Energy, a new division of Royal Dutch Shell in Brazil will invest 3 billion reais ($565 million) in renewable energy in the country through 2025.

Renewable development director for Latin America, Gabriela Oliveira, said most of the investments are related to solar energy projects and that Shell has 2 GW of solar projects under development and expects to reach 5 GW by the end of the year.

The company also plans to develop natural gas-fired thermal plant Marlim Azul and expects to begin generation by next year, the executive said during a press conference for the launch in Brazil of Shell Energy, the company’s division focused on clean energy and decarbonization.

“The launch of the brand in Brazil reflects the effort towards decarbonization and also the opportunities opened up by the New Gas Law and by the entry of consumers into the free electricity market” said Guilherme Perdigão, director of renewables and energy solutions at Shell Brazil and Shell Energy.