Shell to acquire US renewables retailer
HOUSTON, July 29, 2021 – Shell plans to buy US renewables vendor Inspire Energy Capital to lower the company’s carbon emissions, the Anglo-Dutch group said on Tuesday.
Royal Dutch Shell’s American arm, Shell New Energies, is set to grow the super-major’s clean-energy and low-carbon profile. The acquisition is expected to be approved in Q4 2021.
Inspire Energy Capital currently supplies power to 235,000 residential customers in California.
In May 2021, the Netherlands ruled that Shell should reduce its carbon emissions by 45% compared to its 2019 levels by 2030. The company has promised to become carbon neutral by 2050.
The value of the deal was not disclosed.