Shell offers to acquire renewable projects in Spain from Q-Energy

Shell, a British oil and gas company has been preparing binding bids to acquire Q-renewable Energy’s energy assets in Spain, which are worth €1 billion in total. Reportedly, in addition to Shell, Naturgy and Austrian electricity provider Verbund are also preparing offers for the portfolio. Q-Energy, a Spanish fund manager, is selling the solar assets to take advantage of rising demand from European energy companies seeking to meet various government’s climate change goals.

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