By Stephen Nakrosis

 

Shell New Energies US LLC Tuesday agreed to buy renewable energy residential retailer Inspire Energy Capital LLC.

Shell New Energies is a subsidiary of Royal Dutch Shell PLC.

"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, which has headquarters in Santa Monica, Calif., and Philadelphia, offers renewable energy subscriptions and services and incentivizes customers to manage energy usage via a rewards program within its mobile app, Shell said.

The deal is expected to close in the fourth quarter, the company said.

 

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

 

(END) Dow Jones Newswires

July 27, 2021 13:56 ET (17:56 GMT)

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