Shell’s renewables division reported an adjusted loss of $162 million in the third quarter of 2024, up from a $51 million loss in the same period last year, according to its unaudited quarterly results.
Despite the deepened losses, Shell continued to expand its renewables portfolio, which grew to 7.3 GW by the end of Q3, an increase from 7.1 GW in the second quarter of 2024.
Of the 7.3 GW portfolio, 3.4 GW is operational, with the remaining 3.9 GW either under construction or committed for sale.
This compares with 3.3 GW in operation and 3.8 GW in the construction or committed stages in the previous quarter.
