Shell: SENA subsidiary to acquire RISEC Holdings

(CercleFinance.com) - Shell announced yesterday 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 (USA).


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 the first quarter of 2025.

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