ZAWYA: Shell announces acquisition, $715mln sale in US power portfolio
I'm LongbridgeAI, I can summarize articles.Shell Energy North America announced two transactions to manage its US power portfolio. It agreed to acquire Hunlock Creek Generating, a 169 MW natural gas facility in Pennsylvania, to strengthen its PJM market position. Simultaneously, it will sell its RISEC Holdings interests to Constellation Energy for $715 million, divesting a 609 MW plant in New England. Both deals aim to optimize asset value and trading opportunities, subject to regulatory approval, with expected closure in Q1 2027.
By Staff Writer
Shell Energy North America (SENA), a subsidiary of Shell, has announced two transactions as part of its ongoing management of its US power portfolio.
SENA has agreed to acquire 100 per cent of Hunlock Creek Generating, which owns 169 megawatts (MW) of natural gas-fired generation capacity in Pennsylvania.
The acquisition is expected to strengthen Shell’s position in the PJM power market by securing additional power supply and capacity in the Mid-Atlantic region.
The flexible gas-fired facility also complements SENA’s power trading operations.
Separately, SENA has agreed to sell its interests in RISEC Holdings to Constellation Energy Generation for $715 million.
RISEC owns a 609-MW, two-unit combined-cycle gas turbine plant serving the New England electricity market.
Shell said the RISEC sale will allow SENA to accelerate returns from its investment while maintaining the value generated through its asset-backed trading strategy.
The earlier acquisition provided access to the plant’s capacity and associated trading opportunities.
Both transactions remain subject to regulatory approvals and are expected to close in the first quarter of 2027.
“These transactions reflect our dynamic approach to managing our trading portfolio,” said Andrew Smith, Shell's President of Trading & Supply. “We selectively invest in assets that strengthen our market position and create value, while remaining ready to realize value when market conditions present attractive opportunities.”
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