Shell To Pick Renewable For Development, Doesn't Know Which Form

[hatrack]

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Van der Veer ruled out nuclear power, which Shell quit two decades ago, and said solar energy technology needed work. "Even when you produce it very cheaply, (solar energy) is still four times as expensive," he said, adding that it would be a waste of resources to invest billions of dollars right now. "We need quite some technology advancement," he said.

Shell sold its silicon solar activities to German company SolarWorld in February. Solar energy is only competitive when subsidised heavily, as it is in Germany. Shell said it would focus on a thin-film photovoltaic technology called Copper Indium di-Selinide (CIS), which is not based on expensive silicon but remains in its development phase.

Van der Veer was more upbeat about wind energy. Shell is involved in the development of several wind parks, one of which is planned on the Dutch coast. "It is expensive, but we're getting subsidies to make it worth our while. And with every project we learn. The next project will be cheaper," Van der Veer said.

Generating electricity with wind is roughly twice as expensive as with coal but the price is approaching that of gas-generated electricity. The aggregate investment of $1 billion Shell has made in alternative energy sources are still a small part of the annual investment budget of around $20 billion, which is mainly targeted towards the exploration of gas and oil fields.

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