Constellation buys Rhode Island Power Plant for $715 M

Shell Energy North America (SENA), a Shell company, has stated that it will sell its Rhode Island Power Plant to Constellation Energy at an acquisition cost of $715 million.  It has also entered into a deal to buy 100% of Hunlock Creek Generating, with 169 megawatts (MW) of gas-fired power plant capacity located in Pennsylvania.

This acquisition is expected to strengthen Shell’s position in the PJM power market by securing additional power supply and capacity in the Mid-Atlantic Region. The flexible gas- fired facility also complements SENA’s power trading operations. 

SENA has also agreed to sell its interests in RISEC Holdings to Constellation Energy Generation for $715 million. RISEC owns a 609-MW, two-unit combined-cycle gas turbine plant serving the New England Market.

Shell remarked that the RISEC sale will allow SENA to accelerate returns from its investment while maintaining the value generated through its asset-backed trading strategy. 

Both deals are subject to regulatory approvals and are expected to close in the first quarter of 2027. 

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Andrew Smith, Shell’s President of Trading & Supply, remarked, “ These transactions reflect our dynamic approach to managing our trading portfolio. We selectively invest in assets that strengthen our market position and create value, while remaining ready to realize value when market conditions present attractive opportunities.”