United States – Shell New Energies US, a subsidiary of Royal Dutch Shell, has agreed to buy Savion, a large utility-scale solar and energy storage developer in the United States, from Macquarie’s Green Investment Group.
Shell expects this acquisition to significantly expand its global solar portfolio.
Savion specializes in the development of solar power and energy storage projects, with more than 18 gigatonnes of solar power and battery storage currently under development for a variety of customers, including utilities and major commercial and industrial organizations.
The acquisition of Savion strengthens Shell’s strategy to build an integrated power business as it strives to become a zero-emissions energy company by 2050. As part of this strategy, Shell intends to sell more than 560 terawatt hours of power globally per year by 2030, which is twice as much as the company currently sells.
The acquisition is expected to be completed by the end of the year.
