In a move to significantly expand its global solar portfolio, Shell New Energies U.S. has agreed to buy Savion, a large utility-scale solar and energy storage developer in the United States, from Macquarie's Green Investment Group (GIG).
Based in Kansas City, Savion has a pipeline of more than 18 gigawatts of solar and energy storage projects under development for a variety of customers, including utilities and major commercial and industrial organizations. The company has more than 100 projects under development in 26 states.
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 terawatt-hours of power globally per year by 2030: twice as much electricity as the company sells today.
“Savion's significant asset pipeline, highly experienced team and proven success as a renewable energy project developer
