Shell has said it would double its green energy spending to $4bn each year if returns on its existing promise to spend up to $2bn per year until 2020 justified it. Gas and new energy head Maarten Wetselaar said he wanted to raise the company’s spending on low carbon energy. As it moves into electricity generation and trading, Wetselaar said Shell's fossil fuel past would not stop customers buying clean energy from it. The company is also investing in renewable energy, including a £200m wind farm off Shetland.
Shell has said it would double its green energy spending to $4bn each year if returns on its existing promise to spend up to $2bn per year until 2020 justified it. Gas and new energy head Maarten Wetselaar said he wanted to raise the company’s spending on low carbon energy. As it moves into electricity generation and trading, Wetselaar said Shell's fossil fuel past would not stop customers buying clean energy from it. He added that solar would be the biggest source of low carbon power but accepted the firm had lost out on the development of wind power.