Shell sells Sprng Energy group to India's Aditya Birla for $1.8 billion

Moscow, July 14 – Neftegaz.RU. Shell Overseas Investment B.V., a wholly owned subsidiary of Shell plc, today signed an agreement with Aditya Birla Renewables Limited (ABRen) to sell 100% of Solenergi Power Private Limited, which includes the Sprng Energy group of companies, for $1.8 billion.

«This agreement reflects Shell’s continued focus on adjusting the portfolio in our power business», said Machteld de Haan, President, Downstream, Renewables and Energy Solutions at Shell.

Sprng Energy employees will continue employment with the new owner, supporting continuity for the workforce and ongoing operational reliability.

The transaction is expected to complete by the end of 2026, subject to regulatory approval and closing conditions.

Transaction details

Sprng Energy, one of India's leading renewable power platforms, supplies solar and wind power to electricity distribution companies in India. Its portfolio consists of 5.0 gigawatts-peak (GWp) of assets (3.3 GWp operating and 1.7 GWp contracted).

Shell is selling 100% of its interests in Solenergi Power Private Limited, which includes the Sprng Energy group of companies, including its physical assets and commercial contracts.

The transaction value of $1.8 billion is subject to customary adjustments at closing, including net debt and capex adjustments.

ABRen is Aditya Birla Group's dedicated renewable energy platform, with Global Infrastructure Partners, part of BlackRock, as a strategic investor. The company develops and operates a diversified pan-India portfolio of solar, wind, hybrid, floating solar, and battery storage projects.