Shell Completes Acquisition of Savion
Strategic Research Institute
Published on :
27 Dec, 2021, 5:30 am
Shell New Energies US LLC has completed the acquisition of Savion LLC, a large utility-scale solar and energy storage developer in the United States. Savion specialises in developing solar power and energy storage projects and currently has more than 18 gigawatts of solar power and battery storage under development for a variety of customers, including utilities and major commercial and industrial organisations. Savion will operate as a wholly owned subsidiary of Shell under its existing brand within Shell’s Renewables & Energy Solutions Integrated Power business.
The Savion acquisition complements Shell’s existing investments in the United States in a range of zero- and lower-carbon assets and technologies and continues Shell’s strategy to develop an integrated power business as it moves to become a net-zero emissions energy business by 2050, in step with society.
Savion’s acquisition expands 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 smart energy storage company in Germany, and EOLFI, a wind and solar developer in France.