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Shell to buy Inspire Energy in green energy push

Reuters

Shell to buy Inspire Energy in green energy push

Tue, July 27, 2021, 7:33 PM

July 27 (Reuters) – Royal Dutch Shell Plc said on Tuesday it would buy renewable energy retailer Inspire Energy Capital LLC, as the European major looks to expand its renewable power business in the United States.

The deal, by the company’s unit Shell New Energies U.S. LLC, advances Shell’s strategy to build and scale renewable and low-carbon businesses with a target to become a net-zero emissions energy business by 2050.

Shell has been seeking ways to accelerate its energy transition strategy and deepen carbon emission cuts following a landmark Dutch court ruling in May.

Like other oil companies, Shell has come under investor pressure to slash planet-warming greenhouse gas emissions…

(Reporting by Rithika Krishna in Bengaluru; Editing by Maju Samuel)

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