Shell Energy North America Buys One Power Plant, Sells Stake in Another for $715 Million
By Connor Hart
Shell Energy North America disclosed two deals as part of the ongoing management of the company's U.S. power portfolio.
The subsidiary of Shell said Thursday it acquired Hunlock Creek Generating, which owns 169 megawatts of natural gas-fired generation capacity in Pennsylvania.
Shell said the acquisition will strengthen its position in the PJM power market, which coordinates the movement of wholesale electricity in 13 states, largely concentrated in the Mid-Atlantic region, as well as the District of Columbia.
Financial terms weren't disclosed.
At the same time, Shell said it sold its interests in Risec Holdings, which owns a 609-megawatt, two-unit combined cycle gas turbine power plant that serves the New England power market.
The $715 million sale, to Constellation Energy Generation, will enable Shell to realize significant value on an accelerated timeline, the company said.
Both transactions are subject to regulatory approvals and expected to close in the first quarter.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
September 10, 2026 15:43 ET (19:43 GMT)
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