17/09/2026 by Daniel Tait
Through its subsidiary, UK-based Shell has agreed to sell its interest in one gas-fired power plant and acquire another generation business.
First, Shell Energy North America (SENA) will sell its stake in RISEC Holdings (RISEC) for $715 million to Constellation Energy Generation. RISEC supplies power to the New England electricity market with a two-unit, 609 MW power plant with combined cycle gas turbines. Shell, which also makes grease and lubricant products, said the acquisition of RISEC had helped SENA’s asset-backed trading portfolio to deliver value. Nevertheless, thanks to a substantial profit on the sale, the company said it will immediately realise the expected long-term gains from ownership.
Second, Shell will bolster its presence in the Mid-Atlantic PJM market by acquiring the entirety of Hunlock Creek Generating. This includes a 125 MW, two-unit combined-cycle power plant and a 44 MW simple-cycle plant for peaking. The PJM market is the largest in the United States, with it covering 13 states and serving 65 million people. Shell says the move is consistent with its ongoing strategy of prioritising assets that will best support its trading capacity.
The trading and supply president at Shell, Andrew Smith, said:
“These transactions reflect our dynamic approach to managing our trading portfolio. We selectively invest in assets that strengthen our market position and create value, while remaining ready to realise value when market conditions present attractive opportunities.”
Subject to the usual regulatory approvals, both transactions are expected to complete in the first quarter next year.
You may also interested in:
TotalEnergies gets closer to realising Papua LNG
France-based TotalEnergies has made substantial steps towards making a final investment decision (FID) for a liquefied natural gas (LNG) project in Papua New Guinea.
Shell to join BP in exploration opportunities
UK-based oil majors BP and Shell have agreed to partner on opportunities for deepwater exploration in the US Gulf of Mexico and offshore of Brazil.