BAKU, Azerbaijan, February 2. Shell's renewable power generation capacity stood at 6.6 GW in 4Q2023, Trend reports.
This comprised 2.5 GW in operation and 4.1 GW under construction or committed for sale.
According to the company's latest report, this is a notable shift from the third quarter's 7.4 GW (2.5 GW in operation, and 4.9 GW under construction and/or committed for sale).
Meanwhile, adjusted earnings in the renewables and energy solutions sector for 4Q2023 reached $0.2 billion, representing an increase from the previous quarter. This growth can be attributed primarily to higher trading and optimization results in Europe and the Americas, driven by market volatility and seasonal effects, the company noted.
Overall, Shell reported adjusted earnings of $7.3 billion in the fourth quarter of 2023, a testament to robust operational performance and strong results in liquefied natural gas (LNG) trading and optimization.
The cash flow from operating activities (CFFO) for the quarter was $12.6 billion, contributing to a total CFFO of $54.2 billion for the entire fiscal year of 2023.