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Shell To Acquire Sprng Energy Group For $1.55 Bln

Shell plc said that it signed an agreement with Actis Solenergi Limited to acquire 100% of Solenergi Power Private Limited for $1.55 billion and with it, the Sprng Energy group of companies.

Sprng Energy supplies solar and wind power to electricity distribution companies in India. Its portfolio consists of 2.9 gigawatts-peak1 (GWp) of assets with a further 7.5 GWp of renewable energy projects in the pipeline.

The transaction is subject to regulatory clearance and is expected to close later in 2022.

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