Shell to acquire power plant operator RISEC Holdings

3 hours ago

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2024.10.23 12:35

(Reuters) -Shell plc said on Wednesday its unit, Shell (LON:) Energy North America (SENA), has agreed to acquire RISEC Holdings, the owner of a 609-megawatt gas power plant in Rhode Island.

The deal secures long-term supply and capacity offtake in the deregulated Independent System Operator New England market, where SENA has held a contract for 100% of RISEC’s energy offtake since 2019, the company said.

© Reuters. FILE PHOTO: A view shows a logo of Shell petrol station in South East London, Britain, February 2, 2023. REUTERS/May James/File Photo

Shell’s acquisition of RISEC will be absorbed within its cash capital expenditure guidance, it added.

The deal is expected to close in the first quarter of 2025.

3 hours ago

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