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 those technologies are seeing greater adoption as a result.
