Shell warns of renewables cost inflation
Company closely monitoring rising costs of wind turbines and batteries, CEO Ben van Beurden says
Shell is closely monitoring cost inflation in the renewables sector, with particular concerns over wind turbine and battery supply chains, says CEO Ben van Beurden. “Probably where we see most of the supply chain cost inflation is actually in the renewables space,” he told the company’s fourth quarter earnings call with analysts. “Wind turbines are significantly up, but also battery costs; you see the raw materials there also being significantly affected by inflation—that supply chain,” he says. “That is something that we are watching carefully because of course, quite often, you bet on projects where you have to take a view on how costs subsequently will develop.” Van Beurden says rising co
Also in this section
14 January 2025
Bioenergy will be a key part of the energy transition as the world decarbonises, and Brazil is set to be a major player in the sector
14 January 2025
The region has ample resources of both gas and renewable energy and developing both will be vital to the global effort to reduce emissions
13 January 2025
The region’s fast-growing economies stand at a pivotal juncture, with the opportunity to drive a sustainable growth strategy that will keep the world’s net-zero ambitions alive
10 January 2025
Global energy demand keeps rising, and digital technology will play a crucial role in both meeting that demand and doing so in a sustainable way