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Shell acquires solar and energy storage developer Savion

The acquisition of Savion strengthens Shell’s strategy to grow an integrated energy business as it moves towards becoming a net zero-emissions energy business by 2050.

Shell New Energies US LLC, a subsidiary of Royal Dutch Shell plc has entered into an agreement to acquire 100% of the shares of Savion LLC (Savion), a large-scale solar and energy developer in the United States, from Macquarie’s Green Investment Group. With this acquisition, Shell expects to significantly expand its global solar portfolio. Savion specializes in the development of solar and energy storage projects and currently has more than 18 gigawatts of solar power and battery storage in development for a wide range of customers, including utilities and utilities. large commercial and industrial organizations.

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The acquisition of Savion reinforces Shell’s strategy to grow an integrated energy business as it moves towards becoming a net zero-emissions energy business by 2050, in sync with society. As part of this strategy, Shell aims to sell more than 560 terawatt-hours of electricity globally by 2030: double the amount it sells today. The acquisition is expected to close by the end of the year.

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https://www.carandbike.com/news/shell-acquires-solar-and-energy-storage-developer-savion-2652483 Shell acquires solar and energy storage developer Savion

Sarah Ridley

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