Shell is undergoing a major restructuring which will also result in thousands of job losses.
Green Is Good for Power Traders Chasing $430 Billion Market
Lars Paulsson, Rachel Morison, and Jesper Starn: Published: Nov 22 2020, 10:30 AM: Last Updated: Nov 22 2020, 1:53 PM
Extracts
Stricter climate targets are spurring investments in wind turbines, solar panels and battery systems, with Bloomberg Intelligence estimating the market may almost double in size in the next 10 years. With the European Union, U.K. and other governments increasingly turning their backs on fossil fuels, companies steeped in that business are looking over the horizon and seeing a new age of electricity.
Royal Dutch Shell Plc is on a hiring spree as it plans to spend as much as $3 billion a year on its new-energies division…
Shell is undergoing a major restructuring which will also result in thousands of job losses. Power is a key element in its short-term strategy.
The Anglo-Dutch major, which in 2018 bought a U.K. electricity provider, plans to invest “quite heavily” in power during the next decade, CEO Ben van Beurden, said.
The company first will hire short-term traders for the continental markets and then expand “a lot more than that” within the next year or so, David Wells, vice president at Shell Energy Europe, said in an interview this month.
Read more at: https://www.bloombergquint.com/technology/green-is-good-for-power-traders-chasing-430-billion-market
Copyright © BloombergQuint
