Your World of Legal Intelligence
 United Kingdom | +44 (0) 20 7284 8080

Shell Closes Acquisition of Solar and Energy Storage Developer Savion.

Document Cited in Related
Vincent

MANews-(C)2009-2021

Anglo-Dutch multinational oil and gas company Royal Dutch Shell plc's (NYSE: RDS.A) US-based Shell New Energies US LLC subsidiary has completed the acquisition of US-based utility-scale solar and energy storage developer Savion LLC, the company said.

Savion specialises in developing solar power and energy storage projects and currently has more than 18gw of solar power and battery storage under development for a variety of customers, including utilities and major commercial and industrial organisations.

Savion will operate as a wholly owned subsidiary of Shell under its existing brand within Shell's Renewables and Energy Solutions Integrated Power business.

The Savion acquisition complements Shell's existing investments in the United States in a range of zero- and lower-carbon assets and technologies and continues Shell's strategy to develop an integrated power business as it moves to become a net-zero emissions energy business by 2050, in step with society.

Savion's acquisition expands Shell's existing solar and energy storage portfolio, where Shell holds interest in developers such as Silicon Ranch Corp. in the US...

To continue reading

Request your trial
COPYRIGHT Normans Media Ltd.

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT