Shell plans up to GBP 25bn of UK investment, mostly in clean energy

Source: Shell

March 28 (Renewables Now) - Royal Dutch Shell Plc (AMS:RDSA) has outlined plans for up to GBP 25 billion (USD 33bn/EUR 30bn) of investment in the UK over the next decade, mainly aimed at low-carbon and renewable products and services.

The Anglo-Dutch oil and gas group on Friday said it intends to spend between GBP 20 billion and GBP 25 billion on the UK energy system over the next 10 years, with more than three-quarters of this to go to low- and zero-carbon technologies, including offshore wind, hydrogen, carbon capture utilisation and storage (CCUS) and electric mobility.

Shell UK Country Chair David Bunch said on social media that the investments are subject to board approval and called for government action.

“Investing this money requires urgency of action across government to deliver the enabling policy and business case frameworks. These must address both the supply and demand side of the energy transition (in areas such as hydrogen and CCS, for example),” he said.

More details of the company’s planned investments will be provided in the coming months.

The news came as the UK government on Friday unveiled ambitions for 300,000 public electric vehicle (EV) charge points by 2030 under its new Electric Vehicle Infrastructure Strategy.

(GBP 1 = USD 1.320/EUR 1.199)

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Browse all articles from Plamena Tisheva

Plamena has been a UK-focused reporter for many years. As part of the Renewables Now team she is taking a keen interest in policy moves.

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