Shell launches Energy brand in Brazil, commits to US$570m in spending over next four years

Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on email
Shell already has 2GW of solar projects in Brazil and intends to grow this to 5GW by the end of 2021. Image: Shell

Oil and gas major Shell has launched the Shell Energy brand in Brazil and has committed to investing R$3 billion (US$570 million) in renewables in the country by the end of 2025.  

With Shell’s division focused on decarbonisation and renewables, Shell Energy will provide clean electricity from solar and wind power plants as well as low-carbon energy from thermal-based gas. It will also offer environmental products such as Renewable Energy Certificates and carbon offsets.

Shell Energy Brazil currently has six solar projects totalling 2GW and its head of renewable development for Latin America, Gabriela Oliveira, was cited by Reuters as saying it anticipates 5GW of solar within its Brazilian portfolio by the end of this year.

“The launch of the brand in Brazil reflects the effort towards decarbonization and also the opportunities opened up by the New Gas Law and by the entry of consumers into the free electricity market” said Guilherme Perdigão, director of renewables and energy solutions at Shell Brazil and Shell Energy.

Brazil is increasingly seen as an attractive market for solar by analysts and investors given the country’s energy needs, a lack of supply, favourable legislation and climate.

In February, Shell committed to spending between US$2 billion and US$3 billion on renewables and energy solutions annually to help it attain net zero status by 2050, although it remains heavily reliant on fossil fuels. Its stated investments in oil exploration would remain effectively three-times that earmarked for renewables, in a move called “delusional” by environmental groups.

Read Next

PV Tech Premium
September 17, 2021
PV Tech spoke to investors and analysts about why Brazil is fast becoming an attractive market for solar investment.
August 11, 2021
Energea Global, a renewable energy investment manager, has announced a US$27 million deal with BTG Pactual to construct a portfolio of solar projects in Brazil.
April 21, 2021
International renewables developers are rushing to secure projects in Brazil before the government takes away subsidies for new solar and wind farm installations next year.
January 15, 2021
PV developer Solaria has signed a power purchase agreement (PPA) with Shell Energy Europe for six solar plants in Spain that have a combined capacity of 300MW.
November 11, 2020
Oil and gas major Shell is looking to expand its use of solar PV in Singapore as part of plans cut its CO2 emissions in the country by a third within a decade.
July 17, 2020
Shell’s energy supply division has launched a new solar and storage tariff in the UK that aims to “revolutionise” how domestic solar installations are used.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
November 10, 2021
8am (PST) | 5pm (CET)
Solar Media Events
December 1, 2021