The Savian acquisition strengthens Shell’s strategy to grow an integrated electricity business as it moves to become a net-zero emissions energy business by 2050.
Shell New Energies US LLC, a subsidiary of Royal Dutch Shell plc, has entered into an agreement from Macquarie’s Green Investment Group to purchase 100 percent of Savion LLC (Sevion), a large utility-scale solar and energy storage developer in the United States. have signed. With this acquisition, Shell expects to significantly expand its global solar portfolio. Savion specializes in developing solar power and energy storage projects and currently has over 18 GW of solar power and battery storage under development for a variety of customers, including utilities and major commercial and industrial organizations.
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The Savian acquisition strengthens Shell’s strategy to grow an integrated electricity business as it moves in tandem with society to become a net-zero emissions energy business by 2050. As part of this strategy, Shell aims to sell more than 560 terawatt hours of electricity per year globally by 2030: twice the amount of electricity the company sells today. The acquisition is expected to close by the end of the year.
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