Late last month Shell Energy North America (SENA) announced it planned to acquire MP2 Energy. MP2 is a diversified energy company, managing assets and offering services, including retail electricity in a number of states and has more than 550 megawatts of wind and 30 megawatts of large-scale solar and 40 megawatts of distributed solar power in its portfolio, according to GTM Research.
SENA is a wholesale and retail power provider in the US. It has over 9,500 megawatts of generating capacity across North America. Shell has previously ventured into renewable energy and it used to actually own Solarex, a US-based solar photovoltaic manufacturer but shuttered that business a while ago. It’s parent company Royal Dutch Shell also has acknowledged that renewables are growing in importance as their prices continue to fall.
"We are proud to bring MP2 into the Shell Energy North America family," said Glenn Wright, VP, SENA. "MP2 has established itself as a significant player in the large end-user electricity market, and achieved its position by combining optimally designed energy solutions and exceptional customer service.”
MP2 also provides systems for commercial and industrial customers for managing energy supply, load, and generation. Shell said: “MP2 is unique in its skill set and at the front of the curve when it comes to developing fit for purpose solutions to its customers, which face ever more complicated energy choices.”
Currently MP2 offers retail electric services—including rooftop solar options—in Illinois, Ohio, Pennsylvania and Texas. The acquisition by SENA will allow it to expand its retail energy business for large commercial and industrial customers on the US’ west coast. It also will allow it to gain capabilities in Texas and throughout the eastern US.
"As Shell continues to expand its energy focus, we will strive to bring customers ever more innovative commodity solutions, including the deployment of new energy management tools," Wright said.Tweet