By Irina Slav – Dec 26, 2018, 10:00 AM CST
Shell plans to increase the annual amount of money it invests in renewable energy to US$4 billion, the supermajor’s head of gas and new energy, Maarten Wetselaar told The Guardian in an interview.
The figure is double the maximum current annual investment Shell has allocated for cleaner energy initiatives but the increase will only materialize if these initial investments prove to make financial sense.
“I would like my current business to be financially credible enough for not only the company, but shareholders, to want to double it and look at more,” Wetselaar told The Guardian.