Shell to invest $565 million in renewable energy in Brazil through 2025

(Reuters) – The Brazilian subsidiary of Royal Dutch Shell (RDSa.L) will invest 3 billion reais ($565 million) in renewable energy in the country through 2025, executives said on Tuesday.

Most of the capex is related to solar energy projects, the executives said. The head of renewable development for Latin America, Gabriela Oliveira, said Shell has 2GW of solar energy projects under development and expects to reach 5GW by year-end.

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.

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