Shell to Discontinue Large-Scale Solar and Wind Projects in Brazil

Shell announced on Thursday that it will discontinue its solar and onshore wind power generation projects in Brazil as part of a "portfolio adjustment". This decision follows Shell’s new global strategy, which aims to reduce spending on low-carbon and renewable businesses.

The move comes amid challenges for renewable investments in Brazil, including an oversupply of energy, slow demand growth, and regulatory uncertainties. Recently, Shell has been working to revoke operating rights for some solar plants in the center-west and northeastern regions, according to government documents.

Shell clarified that the discontinued operations involve centralized power generation plants—those on a large scale. The company will continue to operate Prime Energy, which focuses on distributed generation through smaller solar assets.

“We are always exploring ways to create value from our power generation portfolio, including exiting activities that do not fit into our strategy or do not generate sufficient returns,” Shell said in a statement.