Shell has agreed to sell 100% of Solenergi Power Private Limited, which includes the Sprng Energy group of companies, to Aditya Birla Renewables Limited (ABRen). Sprng Energy supplies solar and wind power to electricity distribution companies in India. Its portfolio includes 5.0 GWp of assets, comprising 3.3 GWp in operation and 1.7 GWp under contract.
Sprng Energy employees will continue with the new owner, supporting operational continuity and maintaining the existing workforce. The transaction is valued at $1.8 billion, subject to customary closing adjustments, including net debt and capital expenditure adjustments.
ABRen is the renewable energy platform of Aditya Birla Group, with Global Infrastructure Partners, part of BlackRock, as a strategic investor. The company develops and operates solar, wind, hybrid, floating solar and battery storage projects across India.
