Shell Involved in $9 Billion Worth of North American Renewable Energy Projects

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Researched by Industrial Info Resources (Sugar Land, Texas)--European energy majors have been taking strides to make their portfolios greener and prepare for a future in which peak oil demand has come and gone. Among the large companies traditionally based on oil and gas that are gradually making their way toward greener projects is Shell plc (NYSE:SHEL) (London, England), which aims to have net-zero emissions by 2050. Shell has purchased stakes in companies or established subsidiaries to establish green energy projects throughout the world. Industrial Info is tracking nearly $9 billion worth of U.S. renewable energy projects involving Shell and associated companies.

Shell's U.S. and Canada solar power projects mainly involve two companies: Silicon Ranch Corporation (Nashville, Tennessee) and Savion Energy LLC (Kansas City, Missouri). In 2018, Shell acquired a 43.83% interest in solar developer Silicon Ranch, making it the company's largest stakeholder. Silicon Ranch owns and operates more than 150 solar energy facilities in 15 states. Shell acquired a 100% stake in solar power and energy storage developer Savion in late 2021. Shell also holds stakes in projects under its Shell Renewables and Energy Solutions segment and is involved in a large offshore wind project outside of Savion and Silicon Ranch's domains.

Many of Silicon Ranch's active projects are for smaller solar installations of less than 100 megawatts (MW), such as its Cedar Springs photovoltaic development in Arlington, Georgia. Upon completion, which is expected later this year, the facility will use approximately 215,000 solar modules manufactured by First Solar Incorporated (NASDAQ:FSLR) (Tempe, Arizona) to generate 70 MW. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can click here for the full report.

One of Silicon Ranch's larger projects is the Lambert I & II solar farm near Georgetown, South Carolina. Construction is expected to begin later this year. Subscribers can click here for more details.

In 2021, Silicon Ranch announced it would be venturing into Canada to help supply renewable energy to a Shell refinery. Construction on the solar farm in Edmonton, Alberta, next to Shell's Scotford Chemicals and Energies Park, is expected to begin later this year, using more than 150,000 solar panels on a single-axis tracking system to generate 58 MW. All of the solar farm's energy will be used by the Shell facility for 25 years, providing enough power for about 20% of the refinery's energy needs. The solar farm is expected to be completed in the first half of next year. Subscribers can click here for more information.

Savion's solar projects in general run a bit larger than Silicon Ranch's. These include plans for a grassroot facility near Thibodaux, Louisiana. Construction is expected to begin in mid-2024 and entails installing approximately 600,000 solar panels to generate 200 MW. The project is expected to be completed in the summer of 2025. Subscribers can learn more by viewing the project report.

Expected to kick off soon is construction on Savion's 150-MW solar project in Cass County, Illinois. The project has been in Savion's portfolio since before it was purchased by Shell. The 150-MW facility is expected to be completed by the end of next year. Subscribers can click here for the full report.

While the solar projects in Shell's North American portfolio greatly outnumber other forms of renewable energy, the company does have a handful of wind projects. Chief among is these is the SouthCoast Wind project, formerly Mayflower Wind, an offshore wind development about 25 miles from the Massachusetts coast. Shell is developing the project as a joint venture with Ocean Winds LLC (Madrid, Spain). The facility will use 149 turbines, each rated at 5.4 MW, to generate 804 MW. Construction is planned to begin in the mid-2020s and would take an estimated two years to complete. Subscribers can click here for the full report.

Subscribers to Industrial Info's GMI Power Database can click here for reports on all of the projects discussed in this article and click here for the related plant profiles.

Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).