Shell has completed the acquisition of Solenergi Power Private Ltd (SPPL) for US$1.55bn and with it, the Sprng Energy group of companies from Actis, a British private equity firm. Sprng Energy, based in Pune, India, owns and operates 2.9 GW of wind and solar plants in India (2.1 GW operating and 0.8 GW contracted) with a further 7.5 GW of renewable projects in the pipeline, and supplies power to electricity distribution companies. The assets Shell acquires through the deal triples the company’s renewable capacity in operation. The two companies signed an agreement in May 2022. Prior to the transaction, Shell had 1 GW of renewable generation capacity in operation, and a total of 4.7 GW in operation, under construction and/or committed for sale.
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