On July 27, 2021, Shell New Energies US LLC, a subsidiary of Royal Dutch Shell plc, announced that it has signed an agreement to buy 100 percent of the equity interests of Inspire Energy Capital LLC, a renewable energy residential retailer with headquarters in Santa Monica, California, and Philadelphia, Pennsylvania. Wilson Sonsini Goodrich & Rosati advised Inspire Energy Capital on the transaction.
Inspire offers renewable energy to customers through a variety of innovative services and subscription plans and incentivizes customers to manage energy usage via a rewards program within its mobile app. The company currently serves approximately 235,000 residential customers in Delaware, Illinois, Massachusetts, Maryland, New Jersey, New York, Ohio, Pennsylvania, and Washington, D.C. The acquisition of Inspire accelerates Shell’s digital ambitions in the power sector by utilizing data-driven, digitally enabled platforms to simplify customers’ decarbonization journeys.
Following the close of the transaction—which is expected by Q4 2021, subject to regulatory clearance and the satisfaction of closing conditions—Inspire will be a wholly owned subsidiary of Shell, operating under its existing brand within Shell’s Renewables & Energy Solutions integrated power business.
The Wilson Sonsini team that advised Inspire in the transaction includes:
Corporate/M&A
Bob O’Connor
Rich Mullen
Marty Korman
Kenji Strait
Energy and Infrastructure
Todd Glass
Scott Zimmermann
Credit Finance
Ira Palgon
Dana Hall
Technology Transactions
Manja Sachet
Chi-Fei Wang
Barclay Oudersluys
Privacy and Cybersecurity
Tracy Shapiro
Matt Staples
Daniel Chen
Edward Ruse
Employee Benefits and Compensation
Jaqueline Tokuda
Jason Chan
Employment Law
Matt Gorman
Heather Diles
Real Estate
Susan Reinstra
Martin Sul
Antitrust
Ben Labow
Anti-Corruption
Tarek Helou
CFIUS and Export Control
Joshua Gruenspecht
Jonathan Davey
Anne Seymour
For more information, please refer to Shell’s press release.