Shell Buys US Power Plant for Foothold in New England Market

Shell Energy North America (US), a subsidiary of Shell Plc (NYSE:SHEL), has agreed to acquire a 100% equity stake in RISEC Holdings, LLC, owner of a 609-megawatt two-unit combined-cycle gas turbine power plant located in Rhode Island. The purchase will boost Shell's presence in the highly competitive Independent System Operator New England (ISO New England) power market. “Shell has had a successful integrated gas and power business in the growing ISO New England market for over 20 years, and this acquisition secures valuable trading opportunities…