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Shell (RDS.A) to Invest $565M in Brazil's Clean Energy by 2025

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Royal Dutch Shell plc’s (RDS.A) Brazilian affiliate Shell Energy intends to invest $565 million in renewable energy projects in the nation through 2025, most of which will be solar energy. The decision was announced during the local debut of Shell Energy earlier this week, the company's decarbonization, environmental goods and renewable energy business.

Shell aims to fortify its solar energy footprint in the South American country from 2 Gigawatt (GW) to 5 GW by the end of 2021. Currently, the oil and gas supermajor has six solar projects with a total capacity of more than 2 GW including a collaboration with the local steelmaker Gerdau SA to construct a 190-MW direct current solar project in the state of Minas Gerais. The firm also intends to build the Marlim Azul natural gas-fired thermal plant, which it hopes will come online by 2022.

Shell Energy Brazil will generate and sell sustainable electricity from solar and wind power plants as well as produce low-carbon energy from thermal-based gas. It will also provide environmental goods, such as Renewable Energy Certificates and........

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