Shell New Energies Director on Investing in Clean Energy: ‘It’s About Survival’

(Greentech Media, 1 Apr 2019) Oil major has been on a clean-energy acquisition spree, and “absolutely” intends to become a regional electric utility in the U.S.

Royal Dutch Shell is taking the clean energy transition seriously. So seriously, in fact, that Maarten Wetselaar, director of Shell’s integrated gas and new energies division, believes his company could become the largest power company in the world by the early 2030s amid a global shift to lower-carbon energy resources.

Why is that?

“It's mostly driven by the, we think, irreversible choice the world has made to decarbonize, to address climate change, and to go to [a] net-zero energy system,” he said in an interview last week on the sidelines of the Bloomberg New Energy Finance Summit in New York City. “And by far, the easiest form of energy consumption that can be carbon-free is electricity.”

The share of electricity in final energy consumption is currently around 22 percent, according to Shell’s internal analysis. But by 2070, electricity will exceed 50 percent of end-use energy consumption, rapidly making its way into transportation, home heating and cooking, and industrial processes.

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Greentech Media, 1 Apr 2019: Shell New Energies Director on Investing in Clean Energy: ‘It’s About Survival’