Shell, through its subsidiary Shell New Energies has agreed to acquire US solar and energy storage developer Savion to expand its integrated power business and as part of its 2050 net-zero emission push. Kansas City-based Savion operates more than 130 solar and energy storage projects in various development stages across 26 states, with a total capacity of 18 GW. Savion’s customers include utilities and major commercial and industrial organisations.
After the acquisition, Savion will be incorporated as Shell’s wholly-owned subsidiary operating within the company’s renewable energy subsidiary business. Shell’s integrated power business aims to provide 560 TWh of electricity by 2030 and serve more than 15 million retail and business customers globally. Under its updated net-zero target, Shell aims to cut carbon emissions by 50% in 2030 from 2016 levels.
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Published on December 15, 2021 12:24 PM (GMT+8)Last Updated on December 15, 2021 12:24 PM (GMT+8)
