Shell 'could double New Energies investments'

Shell could double its existing planned level of investments in renewables and other areas of clean energy if its early forays are successful, said the executive overseeing the oil and gas giant’s New Energies unit.

Maarten Wetselaar, gas and new energies director for Shell, said the Anglo-Dutch group could pump up to $4bn annually into green energy after 2020 if its initial strategy proves to be “financially credible”.