Shell to Sell Stakes in U.S. Renewable Energy Projects to InfraRed Capital

By Editor


Shell Wind Energy and Savion Equity, both subsidiaries of Shell plc, have finalized an agreement to divest partial ownership in two prominent U.S.-based renewable energy ventures to InfraRed Capital Partners.

The agreement outlines the sale of a 60 percent stake in Brazos Wind Holdings, a substantial 182-megawatt onshore wind farm situated in Fluvanna, Texas, as well as a 50 percent interest in Madison Fields Class B Member, LLC, a significant 180-MW solar development located in Madison County, Ohio.

“This strategic move aligns with our approach outlined at Shell’s Capital Markets Day to optimize ownership in power interests while securing access to renewable electrons through specific offtake agreements,” stated Glenn Wright, Senior Vice President of Shell Energy Americas.

Shell will retain 100 percent of the power offtake from the Brazos project through its subsidiary, Shell Energy North America (US).

Additionally, Madison Fields solar power project will uphold its corporate power purchase agreement with a third party. Shell is slated to act as the asset manager for both Brazos and Madison Fields, with both projects set to benefit from Inflation Reduction Act (IRA) tax credits.

Anticipated to conclude in early 2024, the sale of these assets is effective as of December 2023.

Savion, established in 2019 and wholly owned by Shell, functions independently and focuses on large-scale solar and energy storage projects across 33 states, operating from its headquarters in Kansas City, Missouri.

Brazos Wind Holdings, positioned in Fluvanna, Texas, is undergoing a repower and is anticipated to generate 182 MW upon its completion in early 2024.

Madison Fields, a solar project located in Madison County, Ohio, is in its development phase and is expected to produce 180 MW by the end of 2023.

Latest News