Shell Sells RI Power Plant for $715 Million Amid Shift in US Market

Shell is shifting its US power portfolio by selling a 609-megawatt gas-fired power complex in Rhode Island to Constellation Energy for $715 million. The company will also acquire a smaller natural gas generation facility in Pennsylvania.

The deal gives Shell greater exposure to the PJM Interconnection, the largest electricity market in North America, where demand from data centers has driven up power prices and increased the value of reliable generation capacity.

Shell's president of trading and supply, Andrew Smith, said that the company 'selectively invests in assets that strengthen our market position and create value,' while remaining ready to realize value when market conditions present attractive opportunities.