Climate warning
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Shell

Climate warning

Shell is pulling out of renewable energy sectors - no strategy for the Climate emergency

Shell is putting German solar storage manufacturer Sonnen up for sale. The oil company wanted to become one of the largest electricity suppliers. But Shell is gradually withdrawing from the business with private customers. Only four years ago, Shell announced that it wanted to become one of the largest electricity suppliers in the world. Only four years after the purchase of the Bavarian battery manufacturer Sonnen, the British oil and gas group Shell wants to put the company up for sale again. The Handelsblatt learned this from financial circles. The deal could be worthwhile for Shell, as several people familiar with the transaction said: The valuation of the storage company from the Allgäu could be between 1.35 and 1.8 billion euros, three to four times the turnover of 450 million expected for 2023 Euro. Shell had paid around 500 million euros in 2019. Interested parties should be able to bid for either 51 percent or the entire company. Shell declined to comment. Just a few days ago, the oil company sold its entire electricity customer business in the private customer sector in Germany and Great Britain to British rival Octopus Energy. In addition, the oil company has scrapped several projects in the areas of wind energy and biofuels in recent months. Ruthless focus on performance at Shell https://app.handelsblatt.com/unternehmen/energie/energie-shell-stellt-deutschen-solarspeicher-hersteller-sonnen-zum-verkauf/29374068.html  

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41 more agrees trigger social media ads

  • Johannes Luiga

    19 w

    If Shell and the fossil fuel companies don’t change quickly into renewable energy they will soon only hold stranded assets

    • We Don't Have Time

      39 w

      Dear Patrik Lobergh Your climate warning has received over 50 agrees! We have reached out to Shell by email and requested a response. I will keep you updated on any progress! To reach more people and increase the chance of a response, click the Share button above to share the review on your social accounts. For every new member that joins We Don't Have Time from your network, we will plant a tree and attribute it to you! /Adam, We Don't Have Time

      1
      • Kevin

        39 w

        This is very disappointing from shell

        1
        • Rukia Ahmed Abdi

          40 w

          Shell has never been genuine in tackling climate change.They only blindfold us

          1
        • Videlis Eddie

          40 w

          Very disappointing why choose profit over people???

          2
          • winnie nguru

            40 w

            This is what happens when people place profits before humans. Disappointing

            2
            • Elizabeth Gathigia

              40 w

              So disappointing, shell only cares about the profit

              2
              • Munene Mugambi

                40 w

                Shell is only interested in profits

                2
                • Judy Holm Climate Designers

                  40 w

                  Surreal 🙏 This must become classified as criminal - the sooner the better

                  2
                  • Patrik Lobergh

                    40 w

                    @judy_holm_climate_designers They need to be taken to court to get convicted and heavily financially fined, that is the only language they seem to understand...

                    2
                  • Princess

                    40 w

                    This decision reflects a lack of commitment to addressing one of the most pressing global challenges.

                    2
                    • Gorffly mokua

                      40 w

                      Am not surprised by this, they have always been climate actors.

                      10
                      • johnte ndeto

                        40 w

                        This decision raises serious concerns about their commitment to combating climate change and transitioning to a more sustainable future.

                        10
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