Shell, Gerdau create solar power joint venture

Shell, Gerdau create solar power joint venture

Equity ESG Renewable Energy Solar Electricity Oil Project & Infrastructure Finance Brazil Netherlands United Kingdom

British-Dutch oil company Shell and Brazilian steelmaker Gerdau said they have formed a joint venture to build and operate a solar power project in the state of Minas Gerais in Brazil. Shell and Gerdau did not say how much they plan to invest to build the 260 MWp solar farm in 2023, but they said the project will provide 50% of the energy that the steelmaker uses at its plants in Brazil. They added that Shell's local trading division, Shell Energy Brasil, will sell the other 50% on the spot mark

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