Shell Quits Brazil Wind and Solar Projects

Shell Quits Brazil Wind and Solar Projects

Shell has decided to scrap wind and solar power generation projects it had planned to build in Brazil, citing the unfavorable investment environment, per a Reuters report. “We are always exploring ways to create value from our power generation portfolio, including exiting activities that do not fit into our strategy or do not generate sufficient returns,” the supermajor said in a statement, days after declaring a pivot away from alternative ener…

Shell has canceled its onshore solar and wind energy production projects in Brazil. The British oil company has approximately 3 GW (gigawatts) in solar energy initiatives in the country. In a statement, the company reported that the decision is part of a strategy to simplify and discipline its electricity generation portfolio. Shell's withdrawal coincides with a time when there is an oversupply of energy produced by renewable sources in Brazil. …

Shell discontinues solar and onshore wind projects in Brazil

Shell has announced the discontinuation of its solar and onshore wind power generation projects in Brazil, citing a portfolio adjustment.

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So here we are. Another day, another reminder that Shell remains a gold-standard sin stock — greed-fueled, PR-polished, and morally bankrupt, backed by some of the world’s biggest investors who talk green while banking on black gold. Well, well, well. Who could’ve possibly guessed that Shell — the benevolent guardian of our planet’s fossil-fueled future — has once again decided that renewable energy just isn’t oily enough? In an absolutely shock…