Shell Acquires Pennsylvania Generating Facility and Sells Rhode Island Plant to Constellation Energy
Shell has entered into agreements to acquire Hunlock Creek Generating, a natural gas-fired power plant in Pennsylvania with 169MW of capacity, while selling its stake in the RISEC facility in Rhode Island for $715 million. The transactions are part of Shell's strategy to optimize and manage its U.S. power portfolio. Both deals require regulatory approval and are expected to close by early 2027. The Hunlock Creek acquisition will enhance Shell Energy North America’s position within the Mid-Atlantic grid managed by PJM Interconnection, which serves 13 states plus Washington D.C. The facility includes a two-unit combined-cycle plant with peaking capabilities. Meanwhile, RISEC—a 609MW gas turbine complex—will be sold to Constellation Energy Generation and will no longer supply electricity under Shell’s long-term agreement. Shell emphasized that the Hunlock Creek purchase is expected to deliver returns above its investment requirements for power assets, as outlined in a prior Capital Markets Day. The RISEC sale allows early realization of value from an asset previously contracted by Shell since 2019.
Tickers: $SHEL
Topics: Corporate Transactions Energy Natural Gas Plants Power Generation