Shell Acquisition of RISEC Holdings

(Reuters) – Shell plc announced on Wednesday that its unit, Shell Energy North America (SENA), has agreed to acquire RISEC Holdings, which owns a 609-megawatt gas power plant in Rhode Island.

The acquisition will secure long-term supply and capacity offtake in the deregulated Independent System Operator New England market. Since 2019, SENA has maintained a contract for 100% of RISEC's energy offtake.

Shell stated that the acquisition will fall within its cash capital expenditure guidance and is anticipated to close in the first quarter of 2025.