HOUSTON, 20 December 2021 / PRNewswire / – Shell New Energies US LLC, a subsidiary of Royal Dutch Shell plc (Shell), completed the acquisition of Savion LLC (Savion), a leading developer of solar energy and energy storage in United States.
Savion specializes in the development of solar power and energy storage projects and currently has over 18 gigawatts of solar power and battery storage under development for a variety of customers including utilities. and large commercial and industrial organizations. Savion will operate as a wholly owned subsidiary of Shell under its existing brand within the integrated energy business of Shell Renewables & Energy Solutions.
The acquisition of Savion complements Shell’s existing investments in United States into a range of zero and low carbon assets and technologies and continues Shell’s strategy of developing an integrated electricity business as it prepares to become a net zero emission energy business. by 2050, in tune with society.
Notes to Editors
- The acquisition of Savion expands Shell’s existing solar and energy storage portfolio, where Shell has interests in developers such as Silicon Ranch Corporation in the United States, Cleantech Solar in Singapore, ESCO Pacific at Australia, owns sonnen, a smart energy storage company in Germany, and EOLFI, wind and solar developer in France.
- Savion is based at Kansas City, Missouri, United States, and currently employs 126 people. Savion has a pipeline of more than 18 gigawatts of solar and energy storage projects with more than 100 projects under development in 26 states.
- This acquisition is part of the 2021 Renewables & Energy Solutions cash investment budget of $ 2-3 billion as announced during Shell Strategy Day on February 11, 2021.
- Shell aims to sell more than 560 terawatt-hours per year globally by 2030 as part of its Integrated Power business – twice as much electricity as the company sells today, and plans to serve more than 15 million retail and business customers around the world as a leading provider of own Power-as-a-Service.
- In February 2021, Shell presented its Powering Progress strategy, including details of how it will achieve its goal of being a net zero-emission energy company by 2050, in line with the company’s progress as it grows strives to meet the Paris Agreement target of limiting the increase in global mean temperature to 1.5 ° C. In October 2021, Shell has set a target of reducing absolute emissions by 50% by 2030, compared to 2016 levels, which include all Scope 1 and 2 emissions.
- For more details on Shell’s Powering Progress strategy, please visit https://www.shell.com/poweringprogress. For more details on Shell’s climate target, please visit www.shell.com/climatetarget.
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