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In green energy push, Royal Dutch Shell agrees to buy Inspire Energy

Royal Dutch Shell said on Tuesday its subsidiary, Shell New Energies, would buy renewable energy residential retailer Inspire Energy Capital LLC.

This solar farm in Selmer, Tennessee generates 30 MWdc (megawatt direct current), enough to power 4,000 homes. 2018 Source - Shell New Energies/ Stuart Conway
This solar farm in Selmer, Tennessee generates 30 MWdc (megawatt direct current), enough to power 4,000 homes. 2018 Source - Shell New Energies/ Stuart Conway

Royal Dutch Shell said on Tuesday its subsidiary, Shell New Energies, would buy renewable energy residential retailer Inspire Energy Capital LLC, as the European major looks to expand its renewable power business in the United States.

According to a press release, Shell New Energies has signed an agreement to buy 100 percent of the equity interests of Inspire Energy Capital LLC, a renewable energy residential retailer with joint headquarters in Santa Monica, CA, and Philadelphia, PA.

According to Reuters, the acquisition is in line with Shell’s Powering Progress initiative to build and scale renewable and low-carbon businesses with a target to becoming a net-zero emissions energy business by 2050.

“This deal instantly expands our business-to-consumer power offerings in key regions in the U.S., 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,” said Elisabeth Brinton, EVP of Renewables & Energy Solutions at Shell.

Inspire Energy on Twitter

Shell Energy North America has been an early energy supplier to Inspire since 2017. The acquisition will cement Inspire’s position as a power supplier to residential customers in the U.S. alongside MP2 Energy, a wholly-owned subsidiary of Shell Energy North America.

Inspire currently serves 225,000 residential customers in Delaware, Illinois, Massachusetts, Maryland, New Jersey, New York, Ohio, Pennsylvania, and Washington DC.

According to Market Watch, Inspire offers renewable energy subscriptions and services and incentivizes customers to manage energy usage via a rewards program within its mobile app.

Written By

Karen Graham is Digital Journal's Editor-at-Large for environmental news. Karen's view of what is happening in our world is colored by her love of history and how the past influences events taking place today. Her belief in man's part in the care of the planet and our environment has led her to focus on the need for action in dealing with climate change. It was said by Geoffrey C. Ward, "Journalism is merely history's first draft." Everyone who writes about what is happening today is indeed, writing a small part of our history.

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