{"organism":"Page","children":[{"organism":"Container.Raw","children":[{"organism":"Metadata","model":{"title":"Makro, Shell Spain and Statkraft sign electricity agreement","text":"Makro, Shell Spain and Statkraft have formalised an agreement for the annual renewable electricity supply of 85 gigawatt hours (GWh) over a 10 year period. ","links":[{"name":"Makro, Shell Spain and Statkraft sign electricity agreement","value":"https://www.shell.com/shellenergy/shell-energy-europe/news-and-insights/makro-shell-spain-statkraft-electricity-agreement.html"}],"tags":[{"name":"news and media releases","value":"activities-and-operations:mass-media/news-and-media-releases"}]},"id":"/content/shell/corporate/global/en_gb/shellenergy/shell-energy-europe/news-and-insights/makro-shell-spain-statkraft-electricity-agreement/jcr_content/root/metadata"},{"organism":"ContentOwner","model":{},"id":"/content/shell/corporate/global/en_gb/shellenergy/shell-energy-europe/news-and-insights/makro-shell-spain-statkraft-electricity-agreement/jcr_content/root/contentowner"},{"organism":"Container.Header","children":[{"organism":"Container.Raw","ref":"https://www.shell.com/_jcr_content/root/header/inherited.model.json","id":"/content/shell/corporate/global/en_gb/shellenergy/shell-energy-europe/news-and-insights/makro-shell-spain-statkraft-electricity-agreement/jcr_content/root/header/inherited","model":{}},{"organism":"Breadcrumb","model":{"links":[{"name":"Home","value":"https://www.shell.com/"},{"name":"Shell Energy","value":"https://www.shell.com/shellenergy.html"},{"name":"Shell Energy Europe","value":"https://www.shell.com/shellenergy/shell-energy-europe.html"},{"name":"News and insights","value":"https://www.shell.com/shellenergy/shell-energy-europe/news-and-insights.html"},{"name":"Makro, Shell Spain and Statkraft sign electricity agreement","value":"https://www.shell.com/shellenergy/shell-energy-europe/news-and-insights/makro-shell-spain-statkraft-electricity-agreement.html"}]},"id":"/content/shell/corporate/global/en_gb/shellenergy/shell-energy-europe/news-and-insights/makro-shell-spain-statkraft-electricity-agreement/jcr_content/root/header/breadcrumb"}],"id":"/content/shell/corporate/global/en_gb/shellenergy/shell-energy-europe/news-and-insights/makro-shell-spain-statkraft-electricity-agreement/jcr_content/root/header","model":{}},{"organism":"Container.Main","children":[{"organism":"Container.Section","children":[{"organism":"PageHeader.Date","color":"inherited","model":{"title":"Shell Spain signs electricity supply agreement with Makro and and Statkraft","text":"\u003Cp\u003E\u003Cb\u003EMadrid \u003C/b\u003E- Makro, Shell Spain and Statkraft sign a pioneering agreement for the supply of electricity over 10 years\u003C/p\u003E\r\n","image":{"src":"https://www.shell.com/shellenergy/shell-energy-europe/news-and-insights/makro-shell-spain-statkraft-electricity-agreement/_jcr_content/root/main/section/page_header.shellimg.jpeg/1779334303898/pylon.jpeg","width":3875,"height":1697}},"id":"/content/shell/corporate/global/en_gb/shellenergy/shell-energy-europe/news-and-insights/makro-shell-spain-statkraft-electricity-agreement/jcr_content/root/main/section/page_header"}],"id":"/content/shell/corporate/global/en_gb/shellenergy/shell-energy-europe/news-and-insights/makro-shell-spain-statkraft-electricity-agreement/jcr_content/root/main/section","model":{}},{"organism":"Container.Section","children":[{"organism":"PromoSimple.Text","color":"inherited","id":"/content/shell/corporate/global/en_gb/shellenergy/shell-energy-europe/news-and-insights/makro-shell-spain-statkraft-electricity-agreement/jcr_content/root/main/section_537434493/text","model":{"text":"\u003Cp\u003EMakro, Shell Spain and Statkraft have formalised an agreement for the annual renewable electricity supply of 85 gigawatt hours (GWh) over a 10‑year period. This commitment will enable Makro, a leading multichannel wholesale distributor to the hospitality sector, to advance its sustainability strategy and the decarbonisation of its operations in Spain.\u003C/p\u003E\r\n\u003Cp\u003EThe agreement incorporates an innovative cPPA sleeving model (corporate power purchase agreement), under which Shell will manage the physical delivery of the renewable electricity generated under the PPA signed between Makro and Statkraft. Shell will complement this renewable electricity supply with additional electricity to ensure sufficient supply to meet the demand from Makro’s 37 Cash & Carry stores across Spain, as well as its regional logistics platform located in El Prat de Llobregat (Catalonia).\u003C/p\u003E\r\n\u003Cp\u003EThis pioneering approach provides continuous, flexible and fully integrated supply, combining renewable energy with the operational reliability required by a company with high energy consumption. In addition, the sleeving service simplifies energy management by integrating the entire supply under a single agreement.\u003C/p\u003E\r\n\u003Cp\u003EBertrand Mothe, CEO of Makro, commented: \u003Ci\u003E“At Makro, we are convinced that the path towards a sustainable future requires strategic collaborations with companies which share our vision and commitment. This collaboration with Shell Spain and Statkraft not only guarantees us long‑term access to energy through an innovative approach, but also provides the flexibility and operational security our operations require, while reinforcing our commitment to a greener and more competitive future for all.”\u003C/i\u003E\u003C/p\u003E\r\n\u003Cp\u003E“This agreement reflects our commitment to driving advanced models that facilitate the integration of renewable energy into our customers’ energy supply,” said Óscar Fernández, President of Shell Spain. “We are proud to support Makro and Statkraft in a pioneering project within the Spanish market. Thanks to our diversified portfolio, our extensive trading expertise and our global supply capabilities, Shell is a partner of choice for the industrial sector and companies with high energy demand and in need of security of supply.”\u003C/p\u003E\r\n\u003Cp\u003EFor his part, Simon Kornek, Vicepresident of Origination for southern Europe from Statkraft, stated:\u003Ci\u003E “This important agreement reaffirms Statkraft’s role as a key partner in our customers’ decarbonisation processes. Thanks to our broad renewable portfolio, we design customized, competitive contracts that enable energy supply at stable prices, providing visibility and reducing exposure to market price volatility for electricity consumers in Spain.”\u003C/i\u003E\u003C/p\u003E\r\n\u003Cp\u003EThis type of agreement, which is new to the Spanish market, enables large energy consumers to balance sustainability, security of supply and competitiveness, providing a robust pathway to advance their energy transition through physical, traceable and long‑term solutions.\u003C/p\u003E\r\n\u003Cp\u003EWith this agreement, Makro takes a significant step forward in its roadmap towards sustainable growth; Shell Spain strengthens its role as a reference energy partner for the integration of innovative solutions in industry; and Statkraft reinforces its position as a leader in the PPA market, offering long‑term renewable energy contracts and contributing to enhanced competitiveness for industry and large companies.\u003C/p\u003E\r\n\u003Cp\u003E\u003Cb\u003EAbout Shell Spain\u003C/b\u003E\u003C/p\u003E\r\n\u003Cp\u003E\u003Ci\u003EShell has been present in Spain for more than 100 years and is part of the Shell Group, a global energy and petrochemicals company employing around 85,000 people in more than 70 countries. Shell serves more than one million commercial and industrial customers worldwide, as well as millions of end customers through its global network.\u003C/i\u003E\u003C/p\u003E\r\n\u003Cp\u003E\u003Ci\u003EIn Spain, Shell operates across the energy value chain. Through Shell Energy, Shell Spain supplies more than 10 terawatt hours of gas and electricity to industrial customers, offering tailored energy solutions for large consumers and supporting them in their energy transition processes.\u003C/i\u003E\u003C/p\u003E\r\n\u003Cp\u003E\u003Ci\u003EShell Spain also holds a strong position in the lubricants business and operates one of the Group’s 38 global lubricant blending plants in Tarragona. In addition, the company holds a leading position in bunkering operations, serving customers in Spain’s main ports.\u003C/i\u003E\u003C/p\u003E\r\n\u003Cp\u003E\u003Cb\u003EAbout Makro\u003C/b\u003E\u003C/p\u003E\r\n\u003Cp\u003E\u003Ci\u003EMakro, the Spanish subsidiary of the German METRO Group, is a leading wholesale distributor to the hospitality sector in Spain. It serves more than 900,000 customers and operates 37 centres across 15 Autonomous Communities. Makro offers hospitality professionals a multichannel shopping experience with more than 31,000 products, solutions and services tailored to their needs, with a strong focus on local and high‑quality fresh products. In FY 2024/2025, Makro reported consolidated sales of €1.875 billion. More information at www.makro.es.\u003C/i\u003E\u003C/p\u003E\r\n\u003Cp\u003E\u003Cb\u003EAbout METRO\u003C/b\u003E\u003C/p\u003E\r\n\u003Cp\u003E\u003Ci\u003EMETRO is a leading international food wholesaler specialised in serving the needs of hotels, restaurants and catering companies (HORECA), as well as independent traders. Worldwide, METRO serves around 15 million customers, benefiting from the company’s unique multichannel offering, which combines in‑store purchasing with home delivery services, supported and enabled by digital solutions. METRO MARKETS is also developing as an international online marketplace for professional customers. Sustainability is a core corporate principle for METRO, which features in several sustainability indices and rankings such as MSCI, Sustainalytics and CDP. METRO operates in more than 30 countries and employs over 84,000 people worldwide. In FY 2024/2025, METRO generated sales of €32.4 billion. More information at www.metroag.de and MPULSE.de.\u003C/i\u003E\u003C/p\u003E\r\n\u003Cp\u003E\u003Cb\u003EAbout Statkraft\u003C/b\u003E\u003C/p\u003E\r\n\u003Cp\u003E\u003Ci\u003EStatkraft is a leading international hydropower company and Europe’s largest producer of renewable energy. The Group generates hydropower, wind, solar and gas‑fired power. Statkraft is a global player in energy market operations and employs around 7,000 people in more than 20 countries. In Spain, the company is developing a renewable portfolio of over 1.5 GW and operates 650 MW of solar and wind assets, in addition to managing 730 MW of third‑party solar assets. Statkraft is a reference player in the Iberian PPA market, with 2.1 GW of contracted solar and wind capacity.\u003C/i\u003E\u003C/p\u003E\r\n"}},{"organism":"Container.List","children":[{"organism":"AccordionItem","color":"inherited","id":"/content/shell/corporate/global/en_gb/shellenergy/shell-energy-europe/news-and-insights/makro-shell-spain-statkraft-electricity-agreement/jcr_content/root/main/section_537434493/list/list_item","model":{"title":"Cautionary Note","text":"\u003Cp\u003EThe companies in which Shell plc directly and indirectly owns investments are separate legal entities. In this announcement “Shell”, “Shell Group” and “Group” are sometimes used for convenience to reference Shell plc and its subsidiaries in general. Likewise, the words “we”, “us” and “our” are also used to refer to Shell plc and its subsidiaries in general or to those who work for them. These terms are also used where no useful purpose is served by identifying the particular entity or entities. ‘‘Subsidiaries’’, “Shell subsidiaries” and “Shell companies” as used in this announcement refer to entities over which Shell plc either directly or indirectly has control. The terms “joint venture”, “joint operations”, “joint arrangements”, and “associates” may also be used to refer to a commercial arrangement in which Shell has a direct or indirect ownership interest with one or more parties. The term “Shell interest” is used for convenience to indicate the direct and/or indirect ownership interest held by Shell in an entity or unincorporated joint arrangement, after exclusion of all third-party interest.\u003C/p\u003E\r\n\u003Cp\u003E\u003Cb\u003EForward-Looking statements\u003C/b\u003E\u003C/p\u003E\r\n\u003Cp\u003EThis announcement contains forward-looking statements (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995) concerning the financial condition, results of operations and businesses of Shell. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are statements of future expectations that are based on management’s current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Forward-looking statements include, among other things, statements concerning the potential exposure of Shell to market risks and statements expressing management’s expectations, beliefs, estimates, forecasts, projections and assumptions. These forward-looking statements are identified by their use of terms and phrases such as “aim”; “ambition”; ‘‘anticipate’’; “aspire”, “aspiration”, ‘‘believe’’; “commit”; “commitment”; ‘‘could’’; “desire”; ‘‘estimate’’; ‘‘expect’’; ‘‘goals’’; ‘‘intend’’; ‘‘may’’; “milestones”; ‘‘objectives’’; ‘‘outlook’’; ‘‘plan’’; ‘‘probably’’; ‘‘project’’; ‘‘risks’’; “schedule”; ‘‘seek’’; ‘‘should’’; ‘‘target’’; “vision”; ‘‘will’’; “would” and similar terms and phrases. There are a number of factors that could affect the future operations of Shell and could cause those results to differ materially from those expressed in the forward-looking statements included in this announcement, including (without limitation): (a) price fluctuations in crude oil and natural gas; (b) changes in demand for Shell’s products; (c) currency fluctuations; (d) drilling and production results; (e) reserves estimates; (f) loss of market share and industry competition; (g) environmental and physical risks, including climate change; (h) risks associated with the identification of suitable potential acquisition properties and targets, and successful negotiation and completion of such transactions; (i) the risk of doing business in developing countries and countries subject to international sanctions; (j) legislative, judicial, fiscal and regulatory developments including tariffs and regulatory measures addressing climate change; (k) economic and financial market conditions in various countries and regions; (l) political risks, including the risks of expropriation and renegotiation of the terms of contracts with governmental entities, delays or advancements in the approval of projects and delays in the reimbursement for shared costs; (m) risks associated with the impact of pandemics, regional conflicts, such as the Russia-Ukraine war and the conflict in the Middle East, and a significant cyber security, data privacy or IT incident; (n) the pace of the energy transition; and (o) changes in trading conditions. No assurance is provided that future dividend payments will match or exceed previous dividend payments. All forward-looking statements contained in this announcement are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. Readers should not place undue reliance on forward-looking statements. Additional risk factors that may affect future results are contained in Shell plc’s Form 20-F and amendment thereto for the year ended December 31, 2024 (available at \u003Ca href=\"https://www.shell.com/investors/news-and-filings/sec-filings.html\"\u003Ewww.shell.com/investors/news-and-filings/sec-filings.html\u003C/a\u003E and \u003Ca href=\"http://www.sec.gov/\"\u003Ewww.sec.gov\u003C/a\u003E). These risk factors also expressly qualify all forward-looking statements contained in this announcement and should be considered by the reader. Each forward-looking statement speaks only as of the date of this announcement, November 18, 2025. Neither Shell plc nor any of its subsidiaries undertake any obligation to publicly update or revise any forward-looking statement as a result of new information, future events or other information. In light of these risks, results could differ materially from those stated, implied or inferred from the forward-looking statements contained in this announcement.\u003C/p\u003E\r\n\u003Cp\u003E\u003Cb\u003EShell’s net carbon intensity\u003C/b\u003E\u003C/p\u003E\r\n\u003Cp\u003EAlso, in this announcement we may refer to Shell’s “net carbon intensity” (NCI), which includes Shell’s carbon emissions from the production of our energy products, our suppliers’ carbon emissions in supplying energy for that production and our customers’ carbon emissions associated with their use of the energy products we sell. Shell’s NCI also includes the emissions associated with the production and use of energy products produced by others which Shell purchases for resale. Shell only controls its own emissions. The use of the terms Shell’s “net carbon intensity” or NCI is for convenience only and not intended to suggest these emissions are those of Shell plc or its subsidiaries.\u003C/p\u003E\r\n\u003Cp\u003E\u003Cb\u003EShell’s net-zero emissions target\u003C/b\u003E\u003C/p\u003E\r\n\u003Cp\u003EShell’s operating plan and outlook are forecasted for a three-year period and ten-year period, respectively, and are updated every year. They reflect the current economic environment and what we can reasonably expect to see over the next three and ten years. Accordingly, the outlook reflects our Scope 1, Scope 2 and NCI targets over the next ten years. However, Shell’s operating plan and outlook cannot reflect our 2050 net-zero emissions target, as this target is outside our planning period. Such future operating plans and outlooks could include changes to our portfolio, efficiency improvements and the use of carbon capture and storage and carbon credits. In the future, as society moves towards net-zero emissions, we expect Shell’s operating plans and outlooks to reflect this movement. However, if society is not net zero in 2050, as of today, there would be significant risk that Shell may not meet this target.\u003C/p\u003E\r\n\u003Cp\u003E\u003Cb\u003EForward-Looking non-GAAP measures\u003C/b\u003E\u003C/p\u003E\r\n\u003Cp\u003EThis announcement may contain certain forward-looking non-GAAP measures such as adjusted earnings and divestments. We are unable to provide a reconciliation of these forward-looking non-GAAP measures to the most comparable GAAP financial measures because certain information needed to reconcile those non-GAAP measures to the most comparable GAAP financial measures is dependent on future events some of which are outside the control of Shell, such as oil and gas prices, interest rates and exchange rates. Moreover, estimating such GAAP measures with the required precision necessary to provide a meaningful reconciliation is extremely difficult and could not be accomplished without unreasonable effort. Non-GAAP measures in respect of future periods which cannot be reconciled to the most comparable GAAP financial measure are calculated in a manner which is consistent with the accounting policies applied in Shell plc’s consolidated financial statements.\u003C/p\u003E\r\n\u003Cp\u003EThe contents of websites referred to in this announcement do not form part of this announcement.\u003C/p\u003E\r\n\u003Cp\u003EWe may have used certain terms, such as resources, in this announcement that the United States Securities and Exchange Commission (SEC) strictly prohibits us from including in our filings with the SEC. Investors are urged to consider closely the disclosure in our Form 20-F, and any amendment thereto, File No 1-32575, available on the SEC website \u003Ca href=\"http://www.sec.gov/\"\u003Ewww.sec.gov\u003C/a\u003E\u003C/p\u003E\r\n"}}],"id":"/content/shell/corporate/global/en_gb/shellenergy/shell-energy-europe/news-and-insights/makro-shell-spain-statkraft-electricity-agreement/jcr_content/root/main/section_537434493/list","model":{}}],"id":"/content/shell/corporate/global/en_gb/shellenergy/shell-energy-europe/news-and-insights/makro-shell-spain-statkraft-electricity-agreement/jcr_content/root/main/section_537434493","model":{}}],"id":"/content/shell/corporate/global/en_gb/shellenergy/shell-energy-europe/news-and-insights/makro-shell-spain-statkraft-electricity-agreement/jcr_content/root/main","model":{}},{"organism":"Container.Footer","children":[{"organism":"Breadcrumb.Large","model":{"links":[{"name":"Home","value":"https://www.shell.com/"},{"name":"Shell Energy","value":"https://www.shell.com/shellenergy.html"},{"name":"Shell Energy Europe","value":"https://www.shell.com/shellenergy/shell-energy-europe.html"},{"name":"News and insights","value":"https://www.shell.com/shellenergy/shell-energy-europe/news-and-insights.html"},{"name":"Makro, Shell Spain and Statkraft sign electricity agreement","value":"https://www.shell.com/shellenergy/shell-energy-europe/news-and-insights/makro-shell-spain-statkraft-electricity-agreement.html"}]},"id":"/content/shell/corporate/global/en_gb/shellenergy/shell-energy-europe/news-and-insights/makro-shell-spain-statkraft-electricity-agreement/jcr_content/root/footer/breadcrumb"},{"organism":"Container.Raw","ref":"https://www.shell.com/_jcr_content/root/footer/inherited.model.json","id":"/content/shell/corporate/global/en_gb/shellenergy/shell-energy-europe/news-and-insights/makro-shell-spain-statkraft-electricity-agreement/jcr_content/root/footer/inherited","model":{}}],"id":"/content/shell/corporate/global/en_gb/shellenergy/shell-energy-europe/news-and-insights/makro-shell-spain-statkraft-electricity-agreement/jcr_content/root/footer","model":{}}],"id":"/conf/shell/settings/wcm/templates/base/structure/jcr_content/root","model":{}}],"model":{"title":"Makro, Shell Spain and Statkraft sign electricity agreement","text":"Makro, Shell Spain and Statkraft have formalised an agreement for the annual renewable electricity supply of 85 gigawatt hours (GWh) over a 10 year period. ","links":[{"name":"canonical","value":"https://www.shell.com/shellenergy/shell-energy-europe/news-and-insights/makro-shell-spain-statkraft-electricity-agreement.html"},{"name":"errorUrl","value":"https://www.shell.com/error.html"},{"name":"hierarchy","value":"en_gb/shellenergy/shell-energy-europe/news-and-insights/makro-shell-spain-statkraft-electricity-agreement"},{"name":"homeTitle","value":"Shell Global"},{"name":"homeUrl","value":"https://www.shell.com/"},{"name":"locale","value":"en-GB"},{"name":"title","value":"Makro, Shell Spain and Statkraft sign electricity agreement | Shell Global"},{"name":"textDirection","value":"ltr"},{"name":"template","value":"base"},{"name":"contentPath","value":"/content/shell/corporate/global/en_gb/shellenergy/shell-energy-europe/news-and-insights/makro-shell-spain-statkraft-electricity-agreement"},{"name":"externalDisclaimerText","value":"Shell plc Legal Disclaimer\r\n\r\nYou are now leaving the Shell global website.\r\n\r\nThe link you have selected will direct you to a website that is not controlled by Shell plc or any member of the Shell Group. 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