Anglo-Dutch energy major Shell is aiming to double its investment in clean technology to about $4bn a year, up from the $1bn to $2bn commitment the company has already made.
In an interview in the UK Guardian newspaper, Shell head of gas and new energy Maarten Wetselaar declared the intention for the company to boost its low-carbon energy spending.
Wetselaar said that if initial investments show a good rate of return then he could make the case to increase green spending further from 2020, the article said.
Wind power will be a big part of the company’s plans in Europe and the US, in particular, but Shell will also consider China, India, Taiwan and Japan, he added in the interview.
Earlier this month, a joint venture between Shell and EDF Renewables acquired an offshore lease area off New Jersey from developer US Wind with the potential for an up to 2.5GW project.
Shell is also part of Mayflower Wind – together with EDP Renewables – which won one of the three offshore lease areas in the Massachusetts auction, which took place in December.