Shell Sells Sprng Energy for $1.8 Billion
Shell has signed an agreement to sell its Indian renewable energy platform Sprng Energy to Aditya Birla Renewables Limited (ABRen) in a transaction valued at $1.8 billion.
The deal involves the sale of 100% of Solenergi Power Private Limited, which includes the Sprng Energy group of companies. The portfolio consists of approximately 5.0 gigawatts-peak (GWp) of solar and wind assets in India, including 3.3 GWp of operational projects and 1.7 GWp of contracted capacity.
Machteld de Haan, President of Downstream, Renewables and Energy Solutions at Shell, said: “This agreement reflects Shell’s continued focus on adjusting the portfolio in our power business.”
She added that Shell is “high-grading the power portfolio and recycling capital” as part of its asset-backed trading strategy.
Under the agreement, Sprng Energy employees will continue with the business under the new ownership, supporting operational continuity. The transaction is expected to close by the end of 2026, subject to regulatory approvals and other closing conditions.
ABRen, the renewable energy platform of the Aditya Birla Group, develops and operates solar, wind, hybrid, floating solar, and battery storage projects across India. The acquisition will expand its renewable energy portfolio with additional operating assets and long-term power contracts.
Shell said the sale is part of its broader strategy to focus its power business on selected assets and improve returns while continuing operations in India’s energy market.
Source: shell.com
