Shell New Energies acquires Inspire Energy
Shell New Energies US LLC (Shell), a subsidiary of Royal Dutch Shell plc, acquired a 100 percent of the equity interests of Inspire Energy Capital LLC (Inspire), a renewable energy residential retailer, empowering Shell's strategy to build and scale renewable and low-carbon businesses.
“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 in a statement.
Shell said that they must "double" the amount of electricity sold and provides enough renewable electricity to power 50 million households by 2030 in order to achieve net zero emissions by 2050.
The deal is expected to be completed by Q4 of 2021, as it awaits regulatory approvals.
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