Shell’s renewables business has recorded deepening losses in the third quarter of 2024 compared with the same period last year.
The unit reported an adjusted loss of $162m in its unaudited third quarter results for 2024, compared with a loss of $51m in the same period in 2023.
Advertisement
In Q3 Shell’s renewables portfolio, made up of operational assets and projects in construction, grew to 7.3GW compared with 7.1GW in Q2 of 2024.
Out of this amount, in the third quarter 3.4GW was in operation with 3.9GW under construction/committed for sale, compared with 3.3GW in operation and 3.8GW under construction/committed for sale in Q2 of this year.