Shell reportedly ready for billion-dollar purchase of Indian renewables company

The Britsh-Dutch supermajor will buy Indian company Sprng Energy Pvt for USD 1.8bn, reports media.

BY MATHIAS JULIUS FALKENGAARD, TRANSLATED BY DANIEL FRANK CHRISTENSEN

Shell is working to acquire Indian renewable power company Sprng Energy Pvt in a deal said to be worth around USD 1.8bn, reports media Energy Voice.

Sprng Energy is currently owned by UK-based private equity firm Actis, but the media writes that ownership could change hands within two to three weeks. However, the decision is not yet settled, so the deal could still turn into nothing.

The Indian power company holds a solar project portfolio of 2.503GW as well as 498MW either in operation or under development.

Both Adani Group and Greenko have made offers for Sprng.

Shell plans investment of GBP 20-25bn in UK energy

Shell vies with Adani, Greenko for Actis’s Sprng Energy

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