Shell Completes RISEC Acquisition
The acquisition strengthens Shell’s presence in New England and continues its 2019 energy supply agreement, securing long-term energy offtake from RISEC’s plant.
Shell Energy North America (SENA) completed the 100% equity stake acquisition of RISEC Holdings, which owns a combined-cycle power plant in Rhode Island. The acquisition cements SENA’s presence as an independent system operator in New England’s power market, in which demand is expected to increase over the next decades. Growing decarbonization initiatives, such as low-carbon transportation and home heating, may increase New England’s power demand.
RISEC Power Plant
RISEC’s two-unit combined-cycle gas turbine power plant, completed in and operating since 2002, has a 609-MW maximum capacity and an average operating capacity of 594 MW. This acquisition allows Shell to continue an agreement signed in 2019, securing long-term energy supply and capacity offtake from the plant—this maintains SENA’s current operations and reduces market risk by delivering a reliable and stable power generation source.
RISEC's combined-cycle power plant; image credit: Hart Energy
This power plant generates electricity via two gas turbines and captures waste heat to produce steam. Then, its steam turbines produce additional power to enhance efficiency and minimize emissions compared to single-cycle power plants. The facility, located outside Providence, will deliver reliable, flexible power to balance intermittent renewable energy sources, such as wind and solar.
More Shell News
In early March 2024, Bloom Energy partnered with Shell to study decarbonization solutions with Bloom’s proprietary hydrogen electrolyzer technology. The companies will collaborate to develop replicable, large-scale, solid oxide electrolyzer (SOEC) systems that will produce hydrogen for use at Shell assets. The partnership will help the advancement of decarbonization opportunities for new SOEC technology.
Bloom’s SOEC can produce clean hydrogen at scale to augment or replace fossil fuel-powered grey hydrogen supplies, which are produced at refineries by high CO2-emitting steam methane reformation. Clean, or green, hydrogen is produced from water electrolysis using renewable energy. Electrolysis-driven hydrogen production helps to eliminate greenhouse gas emissions. Demand for the Bloom Electrolyzer, manufactured in California and Delaware, has been increasing due to the growing interest in the low-carbon economy. Bloom’s SOEC operates at high temperature and high efficiency and produces more hydrogen per MW than commercially available lower temperature electrolyzers such as proton electrolyte membrane or alkaline.
