Sprng Energy nearing Rs 13,500 cr sale to Shell, agreement in two weeks

Shell was among the bidders for Sprng, along with Adani Group and renewable energy firm Greenko.

Sprng Energy Pvt is nearing a deal for Shell Plc to acquire the Indian renewable power producer for about $1.8 billion including debt, people with knowledge of the matter said.

An agreement between Sprng’s private equity owner Actis and the energy giant could be signed in two to three weeks after Shell beat out rival bidders, the people said, asking not to be identified as the information is private.

No final decision has been made and talks could still fall apart, the people said. A representative for Shell declined to comment while representatives for Actis didn’t immediately respond to requests for comment.

Shell