Shell warns of renewables cost inflation

Company closely monitoring rising costs of wind turbines and batteries, CEO Ben van Beurden says

Shell is closely monitoring cost inflation in the renewables sector, with particular concerns over wind turbine and battery supply chains, says CEO Ben van Beurden. “Probably where we see most of the supply chain cost inflation is actually in the renewables space,” he told the company’s fourth quarter earnings call with analysts. “Wind turbines are significantly up, but also battery costs; you see the raw materials there also being significantly affected by inflation—that supply chain,” he says. “That is something that we are watching carefully because of course, quite often, you bet on projects where you have to take a view on how costs subsequently will develop.” Van Beurden says rising co