Shell has signed an agreement to buy 100% of the equity interests of Inspire Energy Capital LLC, a renewable energy residential retailer with headquarters in the US.

Shell New Energies US LLC (Shell), a subsidiary of Royal Dutch Shell plc, has signed an agreement to buy 100% of the equity interests of Inspire Energy Capital LLC (Inspire), a renewable energy residential retailer with joint headquarters in Santa Monica, California, and Philadelphia, Pennsylvania, US.

This acquisition advances Shell’s Powering Progress strategy to build and scale renewable and low-carbon businesses with a target to become a net-zero emissions energy business by 2050, in step with society.

“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. “This deal instantly expands our business-to-consumer power offerings in key regions in the US, 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.”