Shell Overseas Investment has signed an agreement with Actis Solenergi Limited (Actis) 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 2.9GW of assets (2.1GW operating and 0.8 GW contracted) with a further 7.5GW of renewable energy projects in the pipeline. The transaction is subject to regulatory clearance and is expected to close later in 2022.