Shell New Energies US to acquire Solar and Storage firm Savion

Dec. 16, 2021
Savion has more than 18 GW of solar power and battery storage projects under development for customers

The North American energy transition spinoff of oil giant Dutch Royal Shell is making a strong investment in green energy projects.

Shell New Energies US signed an agreement to acquire solar and storage firm Savion from Macquarie’s Green Investment Group. The acquisition will expand the global solar portfolio of the firm.

Savion has more than 18 GW of solar power and battery storage projects under development for customers, including utilities and major commercial and industrial organizations. The Savion acquisition is in line with Shell’s strategy to develop an integrated power business as it moves to develop a net-zero emissions energy business by 2050. As part of this strategy, Shell also intends to sell more than 560 TWh of power globally per year by 2030.

 Savion will become the wholly-owned subsidiary of Shell and operate under the Renewables & Energy Solutions Integrated Power business of Shell. The acquisition is expected to close by the end of 2021.

 Savion’s significant asset pipeline, highly experienced team, and proven success as a renewable energy project developer make it a compelling fit for Shell’s growing integrated power business. As one of the fastest-growing, lowest-cost renewable energy sources, solar power is a critical element of our renewables portfolio as we accelerate our drive to net zero,” said Wael Sawan, Integrated Gas and Renewables & Energy Solutions Director. 

About the Author

EnergyTech Staff

Rod Walton is senior editor for EnergyTech.com. He has spent 14 years covering the energy industry as a newspaper and trade journalist.

Walton formerly was energy writer and business editor at the Tulsa World. Later, he spent six years covering the electricity power sector for Pennwell and Clarion Events. He joined Endeavor and EnergyTech in November 2021.

He can be reached at [email protected]

EnergyTech is focused on the mission critical and large-scale energy users and their sustainability and resiliency goals. These include the commercial and industrial sectors, as well as the military, universities, data centers and microgrids.

Many large-scale energy users such as Fortune 500 companies, and mission-critical users such as military bases, universities, healthcare facilities, public safety and data centers, shifting their energy priorities to reach net-zero carbon goals within the coming decades. These include plans for renewable energy power purchase agreements, but also on-site resiliency projects such as microgrids, combined heat and power, rooftop solar, energy storage, digitalization and building efficiency upgrades.

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