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Shell looking into renewable projects in Brazil – report

Royal Dutch Shell Plc (AMS:RDSA) is looking to invest in competitive renewable energy projects in Brazil, the company’s local president, Andre Araujo, said on Thursday.

Shell is looking beyond simply having a green energy asset in the Latin American country, the executive was quoted by Reuters as saying during the Brazilian Business Council for Sustainable Development (Cebds) conference.

During the event Araujo declined to make projections on when Shell could make its first clean energy investment in Brazil.

Back in April, Reuters reported that major oil firms were eyeing investments in Brazil and since then, Norway’s Equinor ASA (NYSE:EQNR) and France’s Total Eren SA have made their first investments in the country’s green energy sector.

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