Shell (SHEL) disclosed on Thursday that it had acquired 100% of Hunlock Creek Generating, which owns 169 megawatts of natural gas-fired generation capacity in Pennsylvania. No terms were disclosed.
The London-based energy giant Shell also disclosed it has agreed to sell interests in RISEC, which owns a 609-MW, two-unit combined cycle gas turbine power plant in New England, to Constellation Energy Generation (CEG), for $715 million.
The acquisition of Hunlock Creek Generating strengthens its supply and capacity off-take positions in the Mid-Atlantic power grid operated by PJM Interconnection, the largest wholesale electricity market and grid operator in the US, Shell said.
The sale of RISEC resulted in a "significant gain" and accelerated the return Shell expected to garner from its longer-term ownership in the power-generator, explained Shell.
Both transactions are subject to regulatory approvals and are expected to close Q1 2027, Shell added.