Shell Sells U.S. Gas Plant for $715 Million as Part of Power Portfolio Restructuring
Royal Dutch Shell is restructuring its power generation portfolio in the United States by selling a 609-megawatt natural gas plant in New England to Constellation Energy Generation for $715 million. The RISEC Holdings facility was acquired just over a year ago, and this sale allows Shell to realize returns earlier than expected while securing a significant gain. At the same time, Shell is acquiring Hunlock Creek Generating from Riverview Power Holdings, gaining 169 MW of gas-fired generation in Pennsylvania. The transactions align with Shell's strategy of selectively owning power assets to support its trading operations and selling when market conditions allow for profit realization. The RISEC divestment ends an energy conversion agreement dating back to 2019 that will terminate once the sale is complete. Both deals are subject to regulatory approvals and expected to close in early 2027. The Hunlock acquisition complements Shell's existing operations within the PJM Interconnection, a major electricity market serving over 65 million people across 13 states and Washington D.C., enhancing its flexible generation exposure.
Tickers: $SHEL
Topics: Energy Natural Gas Power Plants Portfolio Restructuring