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Shell invests in solar, but still plowing money into oil

Still, as company invests in solar firm, it plans to commission oil production vessel

Photo: John Davenport, STAFF

January 15, 2018 Updated: January 15, 2018 9:29pm

Shell Oil Co. plans to plow around $200 million into a Tennessee solar company, the latest deal that finds a major oil company investing in renewable energy as the industry prepares for a day when crude demand plateaus. A unit of Houston’s Shell Oil will purchase almost half of Silicon Ranch Corp., a Nashville company that operates solar projects around the United States, for up to $217 million, the company’s biggest investment in utility-scale solar energy yet, the company said on Monday. Shell Oil is the U.S. subsidiary of Royal Dutch Shell, the Anglo-Dutch oil major. FULL ARTICLE

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