Shell Overseas Investment, a wholly owned subsidiary of Shell, has 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. 

“We are high-grading our power portfolio and recycling capital in service of our asset-backed trading strategy outlined in Capital Markets Day 2025. This is another step in building a more focused, competitive and resilient business while improving returns year on year towards 2030.”

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, a statement said. 

Sprng Energy 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. -- TradeArabia News Service