Shell acquires U.S. solar developer with 18-GW pipeline
Shell New Energies US, a subsidiary of Royal Dutch Shell, has signed an agreement to acquire 100% of Savion, a large-scale developer of solar and energy storage in the United States, from Macquarie’s Green Investment Group. Savion currently has over 18 GW of solar and energy storage under development.
Savion’s significant pipeline, highly experienced team and proven success as a renewable energy project developer make it a compelling solution for Shell’s growing integrated energy business, said Wael Sawan, Integrated Gas and Renewables & Energy Solutions Director. “As one of the fastest growing, cheapest renewables, solar is a critical part of our renewable energy portfolio as we accelerate our pursuit of net zero.”
Shell also has a stake in US solar developer Silicon Ranch and owns sonnen, a popular supplier of residential-scale batteries.
Savion, based in Kansas City, Missouri, currently has 126 employees. The brand name will be continued within Shell’s Renewables & Energy Solutions Integrated Power business. The deal should be completed by the end of the year.
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