Sustainability

Shell Scraps Solar, Onshore Wind Power Projects in Brazil

The company said that quitting its solar and onshore wind power generation projects in Brazil is part of a "portfolio adjustment."

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Pecten Images for Shell Online, The Netherlands, Rotterdam, 2016
Source: Jiri Buller/Shell

Shell is discontinuing its solar and onshore wind power generation projects in Brazil as part of a "portfolio adjustment," the company said.

The move comes amid an unfavorable environment for renewable power investments in Brazil, where projects have struggled to be implemented because of oversupply of energy, a slow growth in demand, and regulatory questions.

It also follows Shell's new global strategy, which included reducing spending on low-carbon and renewable businesses.

"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," Shell said in a statement.

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