November 25, 2019 / 10:30 AM / in 11 days

Shell to continue search in renewables after losing Eneco tender

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. REUTERS/Toru Hanai

LONDON (Reuters) - Royal Dutch Shell (RDSa.L) said on Monday it was disappointed to lose a tender for Dutch renewable energy business Eneco which went to a group led by Japan’s Mitsubishi Corp (8058.T) for 4.1 billion euros ($4.52 billion).

The Anglo-Dutch oil and gas company said in a statement it “will continue to look for opportunities in the energy transition” and aims to invest $2 to $3 billion per year from 2021 onwards.

Reporting by Ron Bousso; editing by Jason Neely

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