July 10, 2017 / 7:31 AM / 11 days ago

Shell sees rising investment in renewables

1 Min Read

Staff members work at the booth of Royal Dutch Shell at Gastech, the world's biggest expo for the gas industry, in Chiba, Japan, April 4, 2017.Toru Hanai - RTX33Y86

ISTANBUL (Reuters) - Royal Dutch Shell will be spending up to $1 billion a year by 2020 on projects within its new energies division, Chief Executive Ben van Beurden told an industry conference on Monday.

Shell set up the division to focus on renewable energy and new technologies to help lower carbon emissions.

"Shell is determined to find solutions and will be spending up to $1 billion (775.49 million pounds) a year on our new energies division by the end of the decade," van Beurden told the conference.

Reporting by Karolin Schaps; editing by Jason Neely

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