Posts under ‘Alternative Fuels’

Published by Industry Global News24: 06 Jan 2020

The Anglo-Dutch company had promised its investors in 2017 that, it will spend $1 bn to $2 bn per year. The fund will be invested in developing a clean energy project till the end of 2020. The company is falling short of the planned $4 billion-$6 billion to be invested between 2016 to end of 2020. This slow progress is likely to raise concerns from environmental groups that oil companies are not contributing to environmental conservation.

Since setting up the “new energies” division, the country has spent approximately $2 billion in setting up a low-carbon energy and electricity production facility. With only a year left to go, the company is far behind the set investment target of $4 bn-$6 bn. read more

Jillian Ambrose and Jasper Jolly: Fri 3 Jan 2020 06.00 GMT

Shell’s green spending plans were dealt a blow earlier this year when the company missed out on a multibillion dollar race to buy Dutch utility Eneco, which has a large renewable energy portfolio. Shell and its pension fund partner lost out to a consortium of investors led by Japan’s Mitsubishi, which paid $4.5bn for the company.

The deal might have pushed Shell’s green investment towards its planned spending range. Shell said it was disappointed it lost the bid, and said that it would continue to invest growing gas and electricity generation from renewable sources. read more

First Utility were rebranded as Shell Energy in March 2019, more than a year after Shell purchased the supplier, and announced they were switching to 100% renewable energy. They later announced they were purchasing fellow small supplier Green Star Energy, another renewables specialist.

By Lucy Brown: 3 January 2020

Extracts

Records were broken in 2019 as more UK electricity was produced via renewables rather than from fossil fuels.

Wind and solar both saw record generation peaks, plus a day in August has been labelled as the ‘greenest’ ever. read more