Energy Acquisitions in Rhode Island
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- Buyer
- Shell Energy North America (US), L.P. (SENA), Shell plc
- Target
- RISEC Holdings, LLC (RISEC)
- Industry
- Energy
- Location
- Rhode Island, United States
- Type
- Buyout
Shell Energy North America (SENA), a subsidiary of Shell plc, has agreed to acquire a 100% equity stake in RISEC Holdings, LLC, which owns a 609 MW two-unit combined-cycle gas turbine power plant in Rhode Island. The purchase secures long-term supply and capacity offtake for Shell in the ISO New England power market, where SENA has held an offtake contract since 2019. The acquisition was expected to close in Q1 2025 and was reported completed on January 24, 2025.
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March 23, 2023
- Buyer
- Environ, 424 Capital
- Target
- Best Practice Energy
- Industry
- Energy
- Location
- Rhode Island, United States
- Type
- Buyout
Environ, a New York-based energy management firm, has acquired Best Practice Energy (BPE), a Wakefield, Rhode Island energy-management and procurement specialist. The deal was completed with growth capital support from 424 Capital to accelerate Environ's service capabilities and deploy BPE's proprietary data tools across Environ's commercial energy, efficiency, clean energy and ESG offerings.
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August 10, 2022
- Buyer
- SinglePoint, Inc.
- Target
- Frontline Power Solutions (FPS)
- Industry
- Energy
- Location
- Rhode Island, United States
- Type
- Buyout
SinglePoint, Inc. (OTCQB: SING) acquired Frontline Power Solutions (FPS), a multi-state licensed energy services company that provides energy supply agreements, billing, auditing, and efficiency consulting to commercial, industrial, and institutional clients. The acquisition expands SinglePoint’s capabilities in deregulated energy markets and gives the company access to FPS’s client portfolio and expertise in energy procurement and efficiency services.
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- Buyer
- Caterpillar Inc.
- Target
- Enhanced Energy Group, Inc. (CarbonPoint Solutions)
- Industry
- Energy
- Location
- Rhode Island, United States
- Type
- Buyout
Caterpillar Inc. has acquired Enhanced Energy Group, Inc., which operates as CarbonPoint Solutions, a Rhode Island–based carbon capture technology company. The acquisition brings CarbonPoint's patented CO2 concentration and capture systems into Caterpillar's product portfolio to support emissions reduction across engines, turbines and industrial power applications.
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