Shell Sells U.S. Gas Plant for $715 Million in Power Portfolio Shake-Up

Shell has decided to sell its 609-megawatt natural gas power plant in New England for $715 million as part of a major overhaul of its U.S. power generation portfolio. The sale comes alongside the acquisition of Hunlock Creek Generating, a 169-megawatt gas-fired facility in Pennsylvania, by Shell Energy North America. Together, these deals bolster Shell's flexible generation and capacity exposure in the PJM Interconnection, a wholesale electricity market serving over 65 million people across 13 states and the District of Columbia.

The RISEC divestment is particularly noteworthy as Shell only recently acquired the plant in January 2025, despite announcing the transaction in October 2024. Shell views the $715 million sale as a way to bring forward expected returns from longer-term ownership, resulting in a significant gain. Both the RISEC divestiture and Hunlock acquisition are subject to regulatory approval and are expected to close in the first quarter of 2027.