Shell Energy North America acquires a 609 MW power plant in Rhode Island, boosting its energy efficiency, portfolio, and leadership in the ISO New England power market.
Shell Energy North America (SENA), a subsidiary of Shell, has acquired full ownership of RISEC Holdings, a pivotal move to bolster its energy capabilities in North America. The acquisition includes a 609-megawatt combined-cycle gas turbine power plant located near Providence, Rhode Island, known for its energy efficiency and lower emissions compared to single-cycle plants.
The facility generates electricity by burning natural gas and utilizing the heat produced to create steam, which is then converted into additional electricity. This process ensures a consistent energy supply while reducing environmental impact.
With this acquisition, Shell solidifies its leadership in the Independent System Operator New England (ISO New England) power market. As the demand for cleaner energy solutions rises due to increasing efforts to decarbonize heating and transportation, the plant is set to play a critical role in meeting future energy needs.
"This deal builds on a six-year relationship with the Rhode Island facility, enabling Shell to maintain a steady energy supply and minimize market risks," said a SENA spokesperson.
Previously owned by Carlyle and EGCO, RISEC's integration into Shell’s portfolio aligns with the company’s goal to expand its offerings in power, natural gas, and environmental products across North America.
The acquisition underscores Shell’s commitment to sustainable energy innovation and ensuring a reliable energy supply for the region, further cementing its position as a leader in North America’s energy market.
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