Shell to reduce investments in wind, solar, and hydrogen; focus on biofuels

From SustainableBusiness.com:

Royal Dutch Shell announced Tuesday that it does not plan to make any more large investments in wind or solar energy, according to a Reuters report. The company also said it doesn't expect hydrogen to play a significant role in energy supply anytime soon. 

Linda Cook, head of Shell's gas and power unit told reporters at a press conference on Tuesday that those investment opportunities "continue to struggle to compete with the other investment opportunities we have in our portfolio."

According to Reuters analysis, the company invested $1.25 billion in green energy from 1999-2006, including the development of 550 megawatts (MW) of wind power capacity. 

Shell will limit its involvement in renewable energy to the development of biofuels. In September the company announced six new research agreements designed to complement Shell's own biofuels development.