FT: Shell Aims To Become World’s Largest Electricity Company
The Financial Times reports that Royal Dutch Shell is targeting becoming the world's largest electricity company in the next 10-15 years
The FT also reports that Maarten Wetselaar, Shell's Integrated Gas & New Energies Director, said current competitors in the electricity space are "useless" because they are tied to legacy business models, such as central station generation
As previously reported, Shell established its New Energies division in 2016 and plans to invest on average $1 – 2 billion a year until 2020 in commercial investments that build on the company’s strengths in new and fast-growing segments of the energy industry. Shell New Energies focuses on two main areas: new fuels for transport, such as advanced biofuels and hydrogen; and power, being involved at almost every stage of the process, from generating electricity, to buying and selling it, to supplying it directly to customers.