Shell Rolls Out New Green Business, Lures Customers in Texas
Shell announced a new green power business for customers in Texas with plans that include free charging for electric vehicles during off-peak hours and credit for extra solar power exported to the grid.
Shell Energy Solutions, a new US retail brand, is based on Shell's 2017 acquisition of MP2 Energy, a commercial and residential power retailer with around 33,000 clients.
Texas is the largest energy producer and consumer in the United States, with its power grid separated from the rest of the country to avoid federal laws.
Shell still spends the majority of its money on oil and gas and aims to expand its power trading business to support its goal of becoming a carbon-neutral corporation by 2050.
Shell has invested in wind farms and solar developers, constructing renewable energy projects in Texas and elsewhere in the United States that will produce roughly 13 GW per year.
According to a company representative, Shell will also purchase renewable energy credits from other suppliers to support its retail operations in Texas.
Shell's non-Shell branded businesses, Inspire and Pulse Energy, currently provide power to residential consumers in the United States.
Source: Arab News
Get the ESG Brief in your inbox
One concise email a week — the ratings moves, regulation deadlines, and vetted solutions that matter. Trusted by sustainability and finance teams.
No spam · unsubscribe anytime.
