Shell Energy North America (SENA) has agreed to acquire 169 MW of natural gas-fired power generation capacity in Pennsylvania, USA while selling its interests in RISEC Holdings to Constellation Energy Generation for $715 million.
SENA announced that it will acquire 100 per cent of Hunlock Creek Generating, which owns two gas-fired power facilities in Pennsylvania; a 125 MW, two-unit combined cycle plant and a 44 MW simple-cycle peaking plant.
SENA said these assets will provide access to flexible gas-fired generation and complement its power and natural gas trading operations.
Separately, SENA will sell its interests in RISEC Holdings to Constellation Energy Generation for $715 million. RISEC owns Rhode Island State Energy Centre, a two-unit 609 MW combined cycle natural gas-fired power plant serving the New England electricity market.
Andrew Smith, Shell’s President of Trading & Supply, said: “These transactions reflect our dynamic approach to managing our trading portfolio. We selectively invest in assets that strengthen our market position and create value, while remaining ready to realize value when market conditions present attractive opportunities.”
Both transactions remain subject to regulatory approvals and are expected to close