Shell acquires 1.1GW PV project in Spain

Shell's acquisition of the 1.1g W solar project from Spanish renewable energy developer Isemaren has further expanded its renewable energy portfolio,

Reuters reported. "Adding these assets to our portfolio strengthens our presence in one of Europe's largest solar markets," said Thomas Brostrom,

Shell's head of renewable energy generation. "This milestone follows the signing of a framework agreement between Isemaren and Shell in 2022,"

Spanish President Oscar Fernandez said.

Last August, Shell bought Sprng Energy, an Indian renewable energy developer, from Actis, an investment company, for $1.55 billion.

The deal was executed through Shell's overseas investment. According to the

data, Royal Dutch Shell Group was founded in 1890. As the largest industrial company in the Netherlands, its headquarters are located in The Hague, the Netherlands and London, the United Kingdom. It was formed by the merger of Royal Dutch Petroleum and Shell in 1907. The group has 14 branches, dealing with petroleum, natural gas, chemical products, non-ferrous metals, coal and so on, among which the production and sales capacity of petroleum and petrochemical fuels ranks second in the world. The company made a profit of $39.9 billion in 2022.