Shell Energy North America (Sena), a Shella branch, announced that she had completed the takeover of a 100% stake in Risec Holdings (Risec), which owns a gas power plant with a combined 609 MW combined cycle in Rhode Iceland. On January 24, the companies stated that the acquisition maintains the position of SENA in the deregulated electricity market of the independent Operator of the New England system and provides a long-term electricity supply and downloading capacity for Shell. The groups have noticed that the demand for electricity on the ISO new England market is expected to increase the increasing effort for decarbonization in sectors such as home and transportation heating. This acquisition allows Shell to continue the energy supply agreement, which has been in force since 2019 and provides the long -term download of energy from the factory located near Providence. The deal holds Shell’s position on the ISO electricity market in Nova England. It also keeps the current SENA operations and reduces the market risk, ensuring a reliable and stable source of electricity.
Rhode Island State Energy Center 609 MW on natural gas is located in Johnston, Rhode Island, near Providence. The power plant was bought by Shell Energy North America. Source: Entergy Risec’s gas turbine power plant with a combined cycle has the highest capacity of 609 MW and an average working capacity of 594 MW. The factory has been working since 2002. It is predicted that the acquisition will generate an internal return rate significantly higher than the border rate set for Shell’s Power Business. Prior to the transaction, the Risec parent company was in 51% owned by the funds operated by the Global Investment Company Carlyle. Prior to the transaction, the remaining 49% of Risec owners were Egco Risec II, LLC, Electricity Generative Public Company Limited (EGCO), Thai public joint stock company. Sena is an energy company with a full service that provides energy solutions in all aspects of the market. Sena is active on the wholesale energy markets of North America for over 25 years and is leading the market of wholesale and retail energy, natural gas and organic products. –POWER edited this content to which he contributed Shell and PR Newswire.
