Shell to buy Actis-owned renewables firm Sprng Energy for $1.55 bn in India
British energy major Shell on Friday said its subsidiary Shell Overseas Investments have signed an agreement with buyout firm Actis to acquire the Indian renewable energy platform Sprng Energy for $1.55 billion (Rs 11,800 crore).
Sprng Energy, an Actis Energy 4 fund investment, supplies solar and wind power to electricity distribution companies in India. It has 2.9 gigawatts-peak (GWp) of solar and wind energy assets in its portfolio, with 7.5 GWp of renewable energy projects in the pipeline.
