Royal Dutch Shell will be spending up to $1 billion a year by 2020 on projects within its new energies division, Chief Executive Ben van Beurden told an industry conference on Monday, Reuters reported.
Shell set up the division to focus on renewable energy and new technologies to help lower carbon emissions.
"Shell is determined to find solutions and will be spending up to $1 billion a year on our new energies division by the end of the decade," van Beurden told the conference.
(Reporting by Karolin Schaps; editing by Jason Neely)
