Shell Plans to Spend $1 Billion a Year on Clean Energy by 2020

Discussion in 'Energy' started by ScienceRocks, Jul 11, 2017.

  1. ScienceRocks
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    ScienceRocks Blue dog all the way!

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    Shell Plans to Spend $1 Billion a Year on Clean Energy by 2020

    CEO says shift to renewables, electric cars is accelerating



    LOL, conservatism fails yet again!
     
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  2. Pogo
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    Pogo Diamond Member

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    Good. I'm invested in Shell. Nice to know my money's being put to productive use.
     
  3. Papageorgio
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    Papageorgio The Ultimate Winner

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    Works for me, any business can do with their money what they want.

    ScienceRocks you can change your name but you are still a racist and that didn't change.
     
  4. Old Rocks
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    Old Rocks Diamond Member

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    Uh, what does racism have to do with energy companies deciding that they are not oil companies, but energy companies, and shifting their investments to solar and wind?
     
  5. Shrimpbox
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    Shrimpbox Gold Member Gold Supporting Member Supporting Member

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    This company had a 9 billion cash flow in the fourth quarter on very low oil prices. One billion is not so much a seismic change as hedging your bets.
     
  6. CrusaderFrank
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    CrusaderFrank Diamond Member

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    peak oil?
     
  7. BlackFlag
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    BlackFlag I haz hoisted it!

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    Oil companies know what's coming. And they increase their investments into alternative energies accordingly every year.
     
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  8. IsaacNewton
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    IsaacNewton Gold Member

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    It would have been helpful to the human race had they started this 30 years ago but at least they are finally getting the message. Many countries in Europe will be 100% renewables in the next ten years while the US lags far behind because it has to deal with the ball and chain that wants it to be 1850 again, the Republican Party.
     
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  9. Old Rocks
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    Old Rocks Diamond Member

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    While these project investments represent an enormous sum, the power prices for these large-scale solar projects are some of the lowest ever recorded.

    When Masdar was selected last year to build the third phase of the Mohammed bin Rashid Al-Maktoum Solar Park, its bid was heralded as the lowest-priced solar PPA in the world at 2.99 cents per kilowatt-hour. GranSolar, Acciona and Ghella were awardedthe engineering, procurement and construction (EPC) contract for the 800-megawatt project in January. EDF Group, via its subsidiary EDF Energies Nouvelles, joined the Masdar-led consortium in March. Financing for the project closed in June.

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    Since the Dubai PPA was signed, however, prices have dropped even further, with tenders for the Sweihan project coming in as low as 2.42 cents per kilowatt-hour. Development teams were initially competing to build a 350-megawatt solar array, but the Abu Dhabi Electricity and Water Authority (ADWEA) invited bidders to submit bids for a larger project if they wished, as PV Magazine reported. Earlier this year, JinkoSolar and the Marubeni Corporation consortium signed a 25-year PPA with ADWEA to build the 1.2-gigawatt PV power plant.

    Solar Leads a Recovery in Global Clean Energy Investment

    Not only the oil companies, but the oil producing nations.
     

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