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$715 million buys Constellation Energy the 609-MW Rhode Island State Energy Center from Shell Energy North America, pricing the Johnston, Rhode Island combined-cycle facility at roughly $1.17 million per megawatt.
Announced Thursday, the deal expands Constellation's position in the ISO New England market. Shell separately agreed to acquire 169 MW of Pennsylvania gas capacity, with financial terms on that transaction not published.
Shell acquired RISEC in 2025 from Carlyle, which had held a majority stake in the combined-cycle plant.
Andrew Smith, Shell's president of trading and supply, said the sale enables Shell to realize significant value on an accelerated timeline.
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