Shell Energy North America Buys One Power Plant, Sells Stake in Another for $715M

Dow Jones
Sep 11
 

Shell Energy North America disclosed two deals as part of the ongoing management of the company's U.S. power portfolio.

The subsidiary of Shell said Thursday it acquired Hunlock Creek Generating, which owns 169 megawatts of natural gas-fired generation capacity in Pennsylvania.

Shell said the acquisition will strengthen its position in the PJM power market, which coordinates the movement of wholesale electricity in 13 states, largely concentrated in the Mid-Atlantic region, as well as the District of Columbia.

Financial terms weren't disclosed.

At the same time, Shell said it sold its interests in Risec Holdings, which owns a 609-megawatt, two-unit combined cycle gas turbine power plant that serves the New England power market.

The $715 million sale, to Constellation Energy Generation, will enable Shell to realize significant value on an accelerated timeline, the company said.

Both transactions are subject to regulatory approvals and expected to close in the first quarter.

 
 

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10