Shell Energy North America (Sena), a subsidiary of Shell, announced that it completed the 100% Equity interest of Risec Holdings (Risec), which owns a 609 MW with two units of gas factory in Rhode Island in Rhode Island . The companies on January 24 said that the acquisition maintains the position of Sena in the Gedulated Independent System Operator New England (ISO New England) Energy Market and secures power supply and capacity for Shell in the long term. The groups noted that the power demand is expected to increase on the ISO New England market because of the growing low -carbon efforts in sectors such as home heating and transport. With this acquisition, Shell can continue an energy supply agreement that has been in force since 2019 and the long -term decrease in the factory, which is close to Providence. The deal maintains the position of Shell in the ISO New England Power Market. It also keeps the current activities of Sena and reduces market risk by guaranteeing a reliable and stable source of power generation.
The 609 MW natural gas -fired Rhode Island State Energy Center is located in Johnston, Rhode Island, near Providence. The power plant was taken over by Shell Energy Noord -America. Source: Entergy Risec’s semi-units Cycle-Cycle Gasturbine energy power plant has a maximum capacity of 609 MW and an average business capacity of 594 MW. The factory has been operated since 2002. The acquisition is expected to generate an internal return that is good than the obstacle set for Shell’s Power Business. Prior to the transaction, the parent company of Risec 51% was owned by funds managed by the global investment firm Carlyle. Prior to the transaction, the remaining 49% owner of Risec Egco Risec II, LLC, a subsidiary of Electricity Generating Public Company Limited (EGCO), was a Thai Public Limited Company. Sena is a full-service energy company that offers energy solutions in all aspects of the market. Sena has been active in North -American wholesalers of energy markets for more than 25 years and is the market leader in wholesalers and store power, natural gas and environmental products. –CURRENT This content edited, which was contributed by Shell And PR Newswire.