Shell Energy North America (SENA), a subsidiary of Shell, has agreed to acquire a 609MW, two-unit combined-cycle gas turbine power plant in Johnston, Rhode Island, US.

The purchase and sale agreement has been signed with the plant’s owner RISEC Holdings, a subsidiary of EGCO RISEC II, and Carlyle’s subsidiaries Cogentrix RISEC CPOCP and Cogentrix RISEC CPP II.

EGCO RISEC II, a subsidiary of Thailand’s Electricity Generating Public Company (EGCO), will divest 49% of the plant, while the remaining stake will be divested by global investment firm Carlyle.

The transaction is subject to regulatory approvals and will conclude in the first quarter of 2025.

The deal will bolster Shell's long-term supply and capacity offtake in the deregulated Independent System Operator (ISO) New England power market.

The plant has been functioning since its completion in 2002 and has an average operating capacity of 594MW.

SENA is a leading provider of wholesale and retail power, natural gas and environmental products.

RISEC Holdings plays a critical role in supplying power to the ISO New England market.

Shell downstream, renewables and energy solutions director Huibert Vigeveno stated: “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 by guaranteeing SENA's position in the market.

“Our strong understanding of this plant's performance positions Shell to capitalise on its value within our existing trading portfolio.”

In March 2024, Shell New Energies US divested its 50% equity stake in SouthCoast Wind Energy to its joint venture partner, Ocean Winds North America.

SouthCoast Wind, a 50/50 joint venture between Shell and Ocean Winds, was created to advance offshore wind projects in Massachusetts.