Shell Energy North America, a subsidiary of Shell Energy North America , has signed an agreement to acquire a full stake in RISEC Holdings , which operates a combined cycle gas turbine plant in Rhode Island with a capacity of 609 megawatts of power.
Combined cycle gas power plant
This acquisition secures Shell’s strategic position in the deregulated ISO New England energy market, where energy demand will continue to increase due to decarbonization efforts in key sectors such as heating and transportation.
[post_relacionado]The plant has been in operation since 2002 and uses combined cycle technology that optimises energy efficiency by capturing waste heat to generate additional power using steam turbines. This maximises energy production and reduces emissions compared to simple cycle power plants.
With this acquisition, Shell strengthens its presence in the New England market, a critical area for energy growth due to the transition to cleaner energy sources. The agreement ensures supply stability for the company and reduces risk in a deregulated market where competitiveness is vital. Since 2019, Shell has managed 100% of the plant’s energy supply under a power conversion agreement, and this purchase extends that relationship into the long term.
Downstream, Renewables & Energy Solutions Director Huibert Vigeveno commented: “ Our strong understanding of the performance of this plant positions Shell to capitalize on its value within our existing trading portfolio, securing valuable trading opportunities in the growing New England energy market .”
The combined-cycle plant is strategically located near Providence, Rhode Island, and its technology offers greater energy efficiency while helping to balance the intermittency of renewable sources such as solar and wind energy . In addition, energy demand is expected to continue to grow in the coming decades due to decarbonization efforts in sectors such as home heating and transportation.
Follow us on social media and don’t miss any of our posts!
YouTube LinkedIn Facebook Instagram
Source: Shell
Photo: Kent Smith / Shell