In a key move to strengthen its position in New England, Shell Energy North America (SENA), a subsidiary of Shell plc, has completed the purchase of 100% of RISEC Holdings, LLC . This deal includes a 609 MW gas-fired combined cycle power plant located in Rhode Island.
The acquisition, which was announced in October 2024 and is absorbed within Shell’s capital budget, secures long-term energy supply in a region where demand is expected to increase due to decarbonisation initiatives in sectors such as heating and transport.
With this addition, SENA consolidates its role as a key supplier in the market managed by the Independent System Operator of New England (ISO New England).
Background to the agreement and Shell’s current position
Prior to the transaction, RISEC Holdings was 51% controlled by funds managed by Carlyle Group, while the remaining 49% was owned by EGCO, a Thai power generation company.
Now 100% owned by SENA, the company is better positioned to meet New England’s future energy demands.
Plant characteristics
RISEC’s facility, located outside Providence, Rhode Island, combines gas and steam turbine technologies to maximize efficiency and reduce emissions. With an average operating capacity of 594 MW , this infrastructure provides reliable backup to balance the intermittency of renewable sources such as solar and wind.
In addition to ensuring the continuity of a supply contract in force since 2019, this acquisition allows Shell to mitigate market risks through a stable source of energy generation . Projections indicate a high rate of return for Shell’s energy business, exceeding established standards.
Follow us on social media and don’t miss any of our posts!
YouTube LinkedIn Facebook Instagram X TikTok
Source: Shell
Photo: shutterstock
