Shell acquires US solar and energy storage firm

Savion has currently more than 18GW of solar power and battery storage in the pipeline

Dimitris Mavrokefalidis
Wednesday 15 December 2021

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Royal Dutch Shell has announced the acquisition of the US developer of solar and energy storage projects Savion LLC from Macquarie’s Green Investment Group.

The move aims to boost the energy giant’s solar portfolio as Savion currently holds a capacity of more than 18GW of solar power and battery storage under development.

Wael Sawan, Integrated Gas and Renewables and Energy Solutions Director at Shell, said: “Savion’s significant asset pipeline, highly experienced team and proven success as a renewable energy project developer make it a compelling fit for Shell’s growing integrated power business.

“As one of the fastest-growing, lowest-cost renewable energy sources, solar power is a critical element of our renewables portfolio as we accelerate our drive to net zero.”

Last week, Shell announced its decision to withdraw from the controversial proposed Cambo oil field.

Earlier, unveiled plans to move its headquarters to the UK.