Shell Plans to Boost Clean Energy Spending to $1 Billion per Year

By [email protected] Royal Dutch Shell is accelerating its move into alternative energy, with plans to spend up to $1 billion per year on its New Energies division by 2020, CEO Ben van Beurden said at conference in Istanbul on Monday.

“In some parts of the world we are beginning to see battery electric cars starting to gain consumer acceptance,” van Beurden said in a speech to the World Petroleum Congress, Bloomberg reported. He added that solar and wind costs are declining rapidly and seeing greater adoption as a result.

“All of this is good news for the world and must accelerate,” he said.

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