Shell Overseas Investments is purchasing Solenergi Power Private Limited, the company for its Sprng Energy platforms, a renewable energy company, from Actis for $1.55 billion.
Sprng Energy supplies solar and wind power to electricity distribution companies in India. Sprng has grown to encompass more than 2. 9 gigawatts-peak of assets with a further 7.5GWp of renewable energy projects in the pipeline. Sprng has implemented a CSR program, comprising a health and safety and rigorous impact study.
“Sprng is a best-in-class energy platform delivering clean, reliable power to millions of people across India,” said Sanjiv Aggarwal, partner, energy infrastructure at Actis. “We remain committed to the Indian market and its ecological transition, and we hope to deploy a further US$1 billion in the region by the end of 2026.”