Shell eyeing new build solar in the UK says reports
Shell has suggested it will become the next major oil firm to enter the new build solar market after it was reported over the weekend that the Dutch giant plans to build solar farms in Britain.
The Times (paywall) reported on Saturday that the company was planning to enter the UK’s competitive energy market through the acquisition of gas-fired power plants and construction of both solar and wind farms.
Royal Dutch Shell has been making some moves in the solar market both in the UK, where it recently agreed a deal to become the sole off-taker of England’s largest solar farm, and globally.
Last month the oil and gas firm acquired a 43.83% interest stake in US solar developer Silicon Ranch Corporation to accelerate growth by developing new projects, entering new markets, and expanding product offerings.
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The business of solar is changing, as the industry scales up, technology, IT and new players to the market will add complexity. This sparks a host of opportunities such as co-location of solar and storage and the rise of unsubsidised solar projects as well as challenges which will question the very business model of European solar asset owners. Solar Finance & Investment Europe is the meeting place for institutional investors, sovereign wealth funds, solar, wind and storage funds and large energy buyers to do business.
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