Shell buys into U.S. solar business

In October, Shell bought NewMotion, a major European electric vehicle charging company, and late last year said it would boost spending on its alternative energies division from $1 billion to $2 billion per year until 2020.

More broadly, several European oil majors are increasing their alternative energy investments. For instance, last month BP ventured back into solar energy with the announcement that it’s investing $200 million over three years to gain a 43 percent stake in Lightsource, a major European solar power developer.

• Deal details: Royal Dutch Shell will pay upwards of $217 million to private equity firm Partners Group.
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