How much will shell invest in the UK energy system?

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.

Why did Shell sign a multi-year offtake agreement?

Shell Energy Europe Limited signed a multiyear offtake agreement in early 2020 to trade all of the power from the battery, as part of Shell’s wider work to help accelerate the transition to cleaner energy sources.

What is Europe's largest battery storage project?

Europe’s largest battery storage project, the 100-megawatt system in Minety in Wiltshire, South West England, is now fully operational. Controlled and optimised by Shell-owned Limejump, the battery will help balance the UK’s electricity demand, providing electricity for up to 10,000 homes for a day before being recharged.

Can shell make power a significant business?

Shell aims to make power a significant business that could sit alongside its oil, gas and chemicals businesses. It is building an integrated power business that includes generating renewable electricity, buying and selling it, storing it and supplying it directly to customers. Shell Media Relations: +44 207 934 5550

What is a Shell subsidiary?

‘‘Subsidiaries’’, “Shell subsidiaries” and “Shell companies” as used in this release refer to entities over which Shell plc either directly or indirectly has control. Entities and unincorporated arrangements over which Shell has joint control are generally referred to as “joint ventures” and “joint operations”, respectively.

Does Shell's operating plan reflect our net-zero emissions target?

Shell’s operating plan, outlook and budgets are forecasted for a ten-year period and are updated every year. They reflect the current economic environment and what we can reasonably expect to see over the next ten years. Accordingly, Shell’s operating plans, outlooks, budgets and pricing assumptions do not reflect our net-zero emissions target.