Shell acquires 1.1 GW of solar projects in Spain
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Shell's Chalet, LLC
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LONDON, May 31 (Reuters) - Shell (SHEL.L) has acquired 12 solar projects in Spain with a total capacity of 1.1 gigawatt from renewables developer Isemaren, its head of renewables generation Thomas Brostrom said on Wednesday.
"Bringing these assets into our portfolio strengthens our presence in one of Europe's largest solar power markets," Brostrom said in a post on LinkedIn.
The projects are located in different regions across the country, Shell's Spain country chair Oscar Fernandez said in a separate post.
Shell has in recent months backed out of several renewables and low-carbon projects around the world as CEO Wael Sawan, who took office in January, seeks to focus on higher-return businesses.
Sawan will present investors his new vision for the energy giant's strategy in New York on June 14.
Reporting by Ron Bousso; Editing by Jan Harvey
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Wednesday, May 31, 2023 at 2:21 pm