Shell buys solar energy projects in Spain from GTC

Shell France LNG

Shell New Energies Holding Europe announced  the acquisition of Green Tie Capital’s (GTC) platform of ten medium mature solar energy projects across Spain, with potential for two gigawatts of solar power generation capacity.

“Shell’s strategy is to lead the energy transition. With this acquisition we seek not only to increase the portfolio of renewable energy generation assets in the short term, but establish the capability to grow our renewable business in Spain further,” Oscar Fernandez, Shell Spain country chairman, said.

Spain is one of Europe’s biggest solar power markets, and solar is the fastest growing and lowest cost renewable electricity source available today.

As of Q3, 2022, Shell has over 46 gigawatts of renewable generation potential in portfolio, including 2.2 GW in operation, 3 GW under construction/contract and 40.9 GW of potential capacity in pipeline.