Constellation Energy Acquires Rhode Island Gas Plant from Shell for $715 Million
Constellation Energy has agreed to purchase the 609-MW Rhode Island State Energy Center (RISEC) gas plant in Johnston, R.I., from Shell Energy North America for $715 million. The acquisition is expected to bolster Constellation's presence in the ISO New England market and provide a reliable power source as its business expands regionally. In a related transaction, Shell will acquire 100% equity in Hunlock Creek Generating LLC, which owns gas-fired capacity totaling 169 MW in Pennsylvania. The sale of RISEC allows Shell to realize value quickly from an asset it acquired in 2025 and previously co-owned with Carlyle. Both deals are anticipated to close by the first quarter of 2027. Analysts note that increased demand for electricity, particularly driven by AI data centers, is fueling a surge in M&A activity within the power sector.
Topics: energy gas plants mergers and acquisitions utilities