Wells Fargo turns to Shell Energy for solar PPAs

June 25, 2020
Facebook
Twitter
LinkedIn
Reddit
Email
Image: Shell.

Financial services giant Wells Fargo has turned to Shell Energy to procure around 150,000MWh of solar power under new power purchase agreements.

Wells Fargo has signed two agreements – of 7 years and 6.7 years respectively – with Shell Energy North America subsidiary MP2 Energy, wherein an innovative solution has allowed both electricity and Renewable Energy Certificates from numerous sites can be supplied to properties owned by Wells Fargo in bundles.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

The contracts will also support the development of new utility-scale solar projects across both California and Virginia, increasing renewable power output for the California ISO and PJM Interconnections.

Richard Henderson, head of corporate properties at Wells Fargo, said entering into long-term contracts that support new renewable energy developments near to the company’s facilities formed a “critical piece” of its renewable energy strategy.

“We appreciate the collaboration with Shell Energy and MP2 in developing these creative transactions to deliver retail renewable energy supply to our California and mid-Atlantic real estate portfolios, and support the communities where we work and live,” he added.

The deals come around a month after Shell Energy turned to NextEnergy Capital to procure the output from two US-based solar farms – the Briel Farm and Fardy’s Mill projects – both of which are located in Virginia and have a combined generation capacity of 45MW.

Read Next

Premium
November 24, 2025
PV Talk: RES Group's Ksenia Dray discusses how European solar developers are reshaping strategies to maintain project viability in challenging market conditions.
November 19, 2025
Econergy Renewable Energy has successfully connected its 52MW Resko solar project in Poland to the national electricity grid.
November 18, 2025
The 94MW Gunsynd Solar Farm has been registered in AEMO's Market Management System as the Queensland project prepares for commissioning.
November 13, 2025
Recurrent Energy's 150MW Carwarp Solar Farm in Victoria and Global Power Generation (GPG) Australia's 200MW Glenellen Solar Farm in New South Wales have registered with AEMO’s Market Management System.
November 11, 2025
Developer Pacific Energy has signed a 20-year power purchase agreement (PPA) with Horizon Power to deliver a hybrid power system to the town of Leonora in Western Australia's goldfields, aiming for up to 60% renewable energy penetration by 2027.
November 4, 2025
Average renewable energy PPA deal price fell marginally to €46.37/MWh (US$53.36/MWh) in Europe in the last week of October, per Pexapark.

Upcoming Events

Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Upcoming Webinars
December 4, 2025
2pm GMT / 3pm CET
Solar Media Events
February 3, 2026
London, UK
Solar Media Events
March 24, 2026
Lisbon, Portugal