Shell: SENA subsidiary to acquire RISEC Holdings
(CercleFinance.com) - Shell yesterday announced that its subsidiary Shell Energy North America (SENA) has signed an agreement to acquire 100% of the shares of RISEC Holdings, which owns a 609 MW combined-cycle gas power plant in Rhode Island (US).
This acquisition will provide Shell with long-term supply and capacity in the ISO New England electricity market, where SENA has a contract with RISEC since 2019.
Huibert Vigeveno, Head of Shell Downstream, Renewables & Energy Solutions, emphasized that the deal secured 'valuable business opportunities' for Shell.
RISEC's plant meets a growing demand in the ISO New England market, linked to decarbonization efforts.
The transaction, subject to regulatory approvals, is expected to close in Q1 2025.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
This acquisition will provide Shell with long-term supply and capacity in the ISO New England electricity market, where SENA has a contract with RISEC since 2019.
Huibert Vigeveno, Head of Shell Downstream, Renewables & Energy Solutions, emphasized that the deal secured 'valuable business opportunities' for Shell.
RISEC's plant meets a growing demand in the ISO New England market, linked to decarbonization efforts.
The transaction, subject to regulatory approvals, is expected to close in Q1 2025.
Copyright (c) 2024 CercleFinance.com. All rights reserved.