Shell Finalizes Acquisition Of Combined-Cycle Power Plant In Key U.S. Energy Market

2025-01-25 01:09:59

(MENAFN- Trend News Agency) BAKU, Azerbaijan, January 25. Shell Energy North America (SENA), a subsidiary of Shell plc, has finalized the acquisition of RISEC Holdings, LLC, expanding its presence in the New England energy market, Trend reports.

The deal grants Shell full ownership of a 609-megawatt combined-cycle gas turbine power plant located in Rhode Island.

This Acquisition solidifies Shell's position in the deregulated Independent System Operator New England (ISO New England) power market, ensuring a reliable long-term supply and capacity offtake. As decarbonization efforts gain momentum in sectors such as home heating and transportation, energy demand within the region is expected to rise over the coming decades, making the acquisition a timely strategic move.

The transaction falls within Shell's existing cash capital expenditure framework, with no changes to its previously announced financial guidance.

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