31 January 2025
31 January 2025
Electrified transport, renewable energy and power grids were key growth drivers.
The portfolio, backed by a $400m investment, includes three solar projects.
The write-off was part of $2.2bn in impairments reported in Shell’s fourth-quarter earnings.
The $162m financing package consists of a $113m term debt facility and a $49m asset financing facility.
The project will power 800,000 homes at times of peak electricity demand.
The project is set to generate 30MW of emissions-free baseload power upon completion of the first two phases.
The company’s technology helps generate 25% of global energy and operates in 140 countries.
About 83% of the low-carbon hydrogen capacity coming online by 2030 is expected to come from green hydrogen plants, while the remainder is from blue hydrogen.
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