By : Inspenet, December 21, 2022
Shell New Energies Holding Europe BV (Shell) has announced the acquisition of a Green Tie Capital (GTC) platform consisting of ten photovoltaic solar energy projects in Spain (two gigawatts). The oil company, which considers photovoltaic solar energy “the fastest growing and lowest cost renewable source available today” classifies Spain as “one of the largest solar energy markets in Europe.”
The two gigawatts, Shell reports, have secured exclusive rights to the land, have demonstrated their viability and are “at an early or advanced stage of development.” The transaction has been completed and the associated capex (cost of capital) is covered by Shell’s current capital for its Renewables & Energy Solutions division.
Twelve Green Tie Capital employees will join Shell Spain within the Shell Renewable Generation team. The now announced agreement follows the framework agreement signed with GTC earlier this year.
According to corporate information provided by the oil company, “as of the third quarter of 2022, Shell has more than 46 gigawatts of renewable generation potential (…), including 2.2 GW in operation, 3 GW under construction / contract and 40 .9 GW of potential capacity in the pipeline, ranging from full-scale solar projects, to floating wind projects and integrated wind-to-hydrogen projects.”
Photo: ShutterStock
Don’t miss the Inspenet News at: https://inspenet.com/inspenet-tv/
Loading...
