Shell UK aims to invest up to £25 billion in the UK energy system
Mar 25, 2022
- More than 75% intended for low-carbon and renewable products and services, including offshore wind, hydrogen and electric mobility
- Investments subject to board approval and supporting policy
Shell UK has unveiled plans to invest £20-25 billion in the UK energy system over the next 10 years.
More than 75% of this is intended for low and zero-carbon products and services, including offshore wind, hydrogen, carbon capture utilisation and storage (CCUS) and electric mobility.
Investments are subject to board approval and supporting policy.
Writing on LinkedIn, UK Country Chair David Bunch, said: “These investments, subject to board approval, aim to propel the UK closer to net zero and help to ensure security of supply whilst stimulating economic growth and jobs.
“However, Shell cannot act alone. Investing this money requires urgency of action across government to deliver the enabling policy and business case frameworks. These must address both the supply and demand side of the energy transition (in areas such as hydrogen and CCS, for example).”
Bunch added: “We look forward to working together to help the UK secure its future energy supply and move towards its 2050 net-zero target.”
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