Skip to main content

Shell to buy Inspire Energy Capital

Published by
Energy Global,


Shell New Energies US LLC (Shell), a subsidiary of Royal Dutch Shell plc, has signed an agreement to buy 100% of the equity interests of Inspire Energy Capital LLC (Inspire), a renewable energy residential retailer with joint headquarters in Santa Monica, California, and Philadelphia, Pennsylvania, US.

This acquisition advances Shell’s Powering Progress strategy to build and scale renewable and low-carbon businesses with a target to become a net-zero emissions energy business by 2050, in step with society.

“Our goal is to become a major provider of renewable and low-carbon energy, and this acquisition moves us a step closer to achieving that,” said Elisabeth Brinton, Executive Vice President of Renewables & Energy Solutions at Shell. “This deal instantly expands our business-to-consumer power offerings in key regions in the US, and we are well-positioned to build on Inspire’s advanced digital capabilities to allow more households to benefit from renewable and low-carbon energy.”

Inspire offers renewable energy to customers via a variety of innovative services and subscription plans and incentivises customers to manage energy usage via a rewards programme within its mobile app. The acquisition accelerates Shell’s digital ambitions in the power sector by utilising data-driven, digitally enabled platforms to simplify customers’ decarbonisation journeys.

Achieving Shell’s net-zero emissions target could mean that the company doubles the amount of electricity sold and provides enough renewable electricity to power 50 million households by 2030. Subject to regulatory clearance and the satisfaction of closing conditions, the deal is expected to be completed by 4Q2021.

 

 

For more news and technical articles from the global renewable industry, read the latest issue of Energy Global magazine.

Energy Global's Summer 2021 issue

The Summer issue of Energy Global features a varied spectrum of in-depth technical articles detailing recent projects, future projections, and technological advancements in the renewables sector, from companies including CEWEP, Enel Green Power, Turboden S.p.A., Cornwall Insight, and more.

 

Don’t forget to sign up to receive future digital issues of Energy Global for free here.

Read the article online at: https://www.energyglobal.com/special-reports/28072021/shell-to-buy-inspire-energy-capital/

You might also like

 
 

Embed article link: (copy the HTML code below):