Shell agrees to buy Solenergi Power from UK-based Actis for $1.55 bn

Shell said its unit, Shell Overseas Investment, would buy 100% of Solenergi Power Private Limited, the flagship company of Sprng Energy group, from UK-based investor Actis

solar power, renewable energy — Shell Plc on Friday agreed to acquire India-based renewable power platform Sprng Energy group for $1.55 billion. (Photo: Bloomberg)

1 min read Last Updated : Apr 29 2022 | 6:15 PM IST

Shell Plc on Friday agreed to acquire India-based renewable power platform Sprng Energy group for $1.55 billion, as the global oil and gas major looks to expand its a low-carbon power generation portfolio in the country.

Shell said its unit, Shell Overseas Investment, would buy 100% of Solenergi Power Private Limited, the flagship company of Sprng Energy group, from UK-based investor Actis.

(Reporting by Sinchita Mitra in Bengaluru; Editing by Amy Caren Daniel)