Shell acquires solar and energy storage developer Savion

Solar Farm developed by Shell subsidiary Silicon Ranch in Tennessee

Shell New Energies US LLC, a subsidiary of Royal Dutch Shell plc, has signed an agreement to buy 100 percent of Savion LLC, a utility-scale solar and energy storage developer in the United States, from Macquarie's Green Investment Group. Savion specialises in developing solar power and energy storage projects and currently has more than 18 GW of solar power and battery storage under development for a variety of customers, including utilities and major commercial and industrial organisations.
The Savion acquisition bolsters Shell's strategy to develop an integrated power business as it moves to become a net-zero emissions energy business by 2050. As part of this strategy, Shell aims to sell more than 560 TWh hours of power globally per year by 2030: twice as much electricity as the company sells today.
Savion's acquisition will expand Shell's existing solar and energy storage portfolio, where Shell holds interest in developers such as Silicon Ranch Corporation in the U.S., Cleantech Solar in Singapore, ESCO Pacific in Australia, owns Sonnen, a energy storage company in Germany, and EOLFI, a wind and solar developer in France.
Savion is based in Kansas City, Missouri, U.S., and currently employs 126 staff. The company will be a wholly owned subsidiary of Shell, operating under its existing brand within Shell's Renewables & Energy Solutions Integrated Power business.
© PHOTON

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