# Shell signs US power plant transactions as part of active portfolio management

- Link: https://www.thailand-business-news.com/pr-news/shell-signs-us-power-plant-transactions-as-part-of-active-portfolio-management
- Published: 2026-09-11T02:10:00+07:00
- Author: PR Newswire

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HOUSTON, Sept. 11, 2026 /PRNewswire/ — Shell Energy North America (US), L.P. (SENA),
a subsidiary of Shell plc (Shell), has signed two transactions as part of its ongoing
management of its US power portfolio:

 ◦ **The acquisition of 100% equity in Hunlock Creek Generating LLC (Hunlock),**
   which owns 169 megawatts (MW) of natural gas-fired generation capacity in Pennsylvania.
 ◦ **The sale of interests in RISEC Holdings, LLC (RISEC) to Constellation Energy
   Generation, LLC for $715 million. **RISEC owns a 609-MW, two-unit combined cycle
   gas turbine power plant that serves the New England power market.

"These transactions reflect our dynamic approach to managing our trading portfolio,"
said Andrew Smith, Shell’s President of Trading & Supply. "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."

**The acquisition of Hunlock strengthens Shell’s position in the PJM power market**

The acquisition secures supply and capacity offtake for SENA in the Mid-Atlantic
power grid operated by PJM Interconnection, the largest wholesale electricity market
and grid operator in the USA.

Hunlock and its subsidiary own 169 MW of natural gas-fired generation capacity in
Pennsylvania. The asset further strengthens SENA’s position in the PJM market through
access to flexible gas-fired generation and reinforces Shell’s continued focus on
investing in assets that complement its trading capabilities.

**The sale of RISEC enables Shell to realize significant value on an accelerated
timeline**

SENA’s earlier acquisition of RISEC ensured continued access to the plant’s capacity
and associated trading opportunities in the market, enabling SENA to deliver substantial
value as part of its asset-backed trading portfolio. With this transaction, SENA
will bring forward the return it expected to generate from its longer-term ownership
through a significant gain on the sale.

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

**Notes to editors** 

 ◦ SENA’s focus is on power markets where it can play to its strengths, including
   trading and optimization, backed by increased access to battery energy storage
   systems and flexible power plants.
 ◦ PJM Interconnection manages the movement of electricity across 13 US states and
   the District of Columbia, serving more than 65 million people.
 ◦ SENA has maintained an energy conversion agreement with RISEC for the plant’s
   full electricity output since 2019, which will terminate upon completion of the
   transaction.
 ◦ Hunlock’s portfolio includes a two-unit, 125-MW combined-cycle power plant and
   a 44-MW simple-cycle peaking plant. Hunlock is currently owned by Riverview Power
   Holdings LLC, an indirect subsidiary of Castleton Commodities International LLC.
 ◦ The Hunlock acquisition is projected to generate returns that exceed Shell’s 
   investment requirements for its power business as outlined at Shell’s Capital
   Markets Day in 2025.
 ◦ SENA is a leading full-service energy company providing a comprehensive suite
   of solutions to commercial and industrial customers across wholesale and retail
   power, natural gas and environmental products markets. Headquartered in Houston,
   Texas, with regional hubs across North America, SENA has been active in energy
   markets for more than 25 years and owns gas-fired generation in some of the largest
   power markets in the United States.

**Cautionary Note**

The companies in which Shell plc directly and indirectly owns investments are separate
legal entities. In this press release "Shell", "Shell Group" and "Group" are sometimes
used for convenience to reference Shell plc and its subsidiaries in general. Likewise,
the words "we", "us" and "our" are also used to refer to Shell plc and its subsidiaries
in general or to those who work for them. These terms are also used where no useful
purpose is served by identifying the particular entity or entities. ”Subsidiaries”,"
Shell subsidiaries" and "Shell companies" as used in this press release refer to
entities over which Shell plc either directly or indirectly has control. The terms"
joint venture", "joint operations", "joint arrangements", and "associates" may also
be used to refer to a commercial arrangement in which Shell has a direct or indirect
ownership interest with one or more parties.  The term "Shell interest" is used 
for convenience to indicate the direct and/or indirect ownership interest held by
Shell in an entity or unincorporated joint arrangement, after exclusion of all third-
party interest.

**Forward-Looking statementsThis press release contains forward-looking statements(
within the meaning of the U.S. Private Securities Litigation Reform Act of 1995)
concerning the financial condition, results of operations and businesses of Shell.
All statements other than statements of historical fact are, or may be deemed to
be, forward-looking statements. Forward-looking statements are statements of future
expectations that are based on management’s current expectations and assumptions,
including (without limitation) those concerning Shell’s strategy and operating plans,
macroeconomic conditions, future energy demand, supply and product mix, commodity
prices, demand for Shell’s products, production results and reserve estimates, development,
execution and management of projects, energy transition and climate change, management
of safety and environmental risks, costs, cash capital expenditures, technology 
advancements, legislative, judicial, fiscal and regulatory developments, regional
conflicts and trading conditions, and involve known and unknown risks and uncertainties
that could cause actual results, performance or events to differ materially from
those expressed or implied in these statements. Forward-looking statements include,
among other things, statements concerning the potential exposure of Shell to market
risks and statements expressing management’s expectations, beliefs, estimates, forecasts,
projections and assumptions. These forward-looking statements are identified by 
their use of terms and phrases such as "aim"; "ambition"; ”anticipate”; "aspire","
aspiration", ”believe”; "commit"; "commitment"; ”could”; "desire"; ”estimate”; ”
expect”; ”goals”; ”intend”; ”may”; "milestones"; ”objectives”; ”outlook”; ”plan”;”
probably”; ”project”; ”risks”; "schedule"; ”seek”; ”should”; ”target”; "vision";”
will”; "would" and similar terms and phrases. There are a number of factors that
could affect the future operations of Shell and could cause those results to differ
materially from those expressed in the forward-looking statements included in this
press release, including (without limitation): (a) price fluctuations in crude oil
and natural gas; (b) changes in demand for Shell’s products; (c) currency fluctuations;(
d) drilling and production results; (e) reserves estimates; (f) loss of market share
and industry competition; (g) environmental and physical risks, including climate
change; (h) risks associated with the identification of suitable potential acquisition
properties and targets, and successful negotiation and completion of such transactions;(
i) the risk of doing business in developing countries and countries subject to international
sanctions; (j) legislative, judicial, fiscal and regulatory developments including
tariffs and regulatory measures addressing climate change; (k) economic and financial
market conditions in various countries and regions; (l) political risks, including
the risks of expropriation and renegotiation of the terms of contracts with governmental
entities, delays or advancements in the approval of projects and delays in the reimbursement
for shared costs; (m) risks associated with the impact of pandemics, regional conflicts,
such as the Russia-Ukraine war and the conflict in the Middle East, and a significant
cyber security, data privacy or IT incident; (n) the pace of the energy transition;
and (o) changes in trading conditions. No assurance is provided that future dividend
payments will match or exceed previous dividend payments. All forward-looking statements
contained in this press release are expressly qualified in their entirety by the
cautionary statements contained or referred to in this section. Readers should not
place undue reliance on forward-looking statements. Additional risk factors that
may affect future results are contained in Shell plc’s Form 20-F for the year ended
December 31, 2025 (available at [www.shell.com/investors/news-and-filings/sec-filings.html](https://edge.prnewswire.com/c/link/?t=0&l=en&o=4771538-1&h=887696299&u=https%3A%2F%2Fwww.shell.com%2Finvestors%2Fnews-and-filings%2Fsec-filings.html&a=www.shell.com%2Finvestors%2Fnews-and-filings%2Fsec-filings.html)
and [www.sec.gov](https://edge.prnewswire.com/c/link/?t=0&l=en&o=4771538-1&h=3922294353&u=http%3A%2F%2Fwww.sec.gov%2F&a=www.sec.gov)).
These risk factors also expressly qualify all forward-looking statements contained
in this press release and should be considered by the reader.  Each forward-looking
statement speaks only as of the date of this press release, September 10, 2026. 
Neither Shell plc nor any of its subsidiaries undertake any obligation to publicly
update or revise any forward-looking statement as a result of new information, future
events or other information. In light of these risks, results could differ materially
from those stated, implied or inferred from the forward-looking statements contained
in this press release.

**Forward-Looking non-GAAP measuresThis press release may contain certain forward-
looking non-GAAP measures such as free cash flow and underlying operating expenses.
We are unable to provide a reconciliation of these forward-looking non-GAAP measures
to the most comparable GAAP financial measures because certain information needed
to reconcile those non-GAAP measures to the most comparable GAAP financial measures
is dependent on future events some of which are outside the control of Shell, such
as oil and gas prices, interest rates and exchange rates. Moreover, estimating such
GAAP measures with the required precision necessary to provide a meaningful reconciliation
is extremely difficult and could not be accomplished without unreasonable effort.
Non-GAAP measures in respect of future periods which cannot be reconciled to the
most comparable GAAP financial measure are calculated in a manner which is consistent
with the accounting policies applied in Shell plc’s consolidated financial statements.
These forward-looking non-GAAP measures are provided to assist readers in understanding
management’s use and expectations of such measures and may not be appropriate for
other purposes. 

The contents of websites referred to in this press release do not form part of this
press release.

We may have used certain terms, such as resources, in this press release that the
United States Securities and Exchange Commission (SEC) strictly prohibits us from
including in our filings with the SEC.  Investors are urged to consider closely 
the disclosure in our Form 20-F, File No 1-32575, available on the SEC website [www.sec.gov](https://edge.prnewswire.com/c/link/?t=0&l=en&o=4771538-1&h=1608433495&u=https%3A%2F%2Fwww.sec.gov%2F&a=www.sec.gov).

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