Oil and gas major Royal Dutch Shell Plc plans to invest BRL 3 billion (US$564 million) through 2025 in Brazil’s clean energy market, including the development of renewable energy projects.
Shell’s head of renewable development for Latin America, Gabriela Oliveira, was cited by Reuters as saying that the company expects to reach 5 GW of solar energy projects under its Brazilian portfolio before end-2021.
At present, the oil and gas giant has six solar projects with a combined capacity of more than 2 GW, including the partnership with local steel producer Gerdau SA to develop a 190-MW direct current (DC) solar project in Minas Gerais state.
According to Oliveira, Shell also intends to launch an offshore wind development campaign this year.
Shell has not dismissed the possibility of making new investments in renewable energy generation joint ventures, the director of Renewables and Energy Solutions at Shell Brasil and Shell Energy, Guilherme Perdigao, added.