LONDON: Shell on Friday agreed to acquire India-based renewable power platform Sprng Energy for $1.55 billion, boosting the energy company’s low-carbon output as it shifts away from oil and gas.
\nShell said it would buy 100% of Solenergi Power Private Limited, the flagship company of Sprng Energy group, from UK-based investor Actis.
\nSprng Energy supplies solar and wind power to electricity distribution companies in India, seen as a major growth market in the power sector in the coming decades.
\nSprng Energy’s portfolio consists of 2.9 gigawatts-peak (GWp) of assets and a further 7.5 GWp of renewable energy projects in the pipeline.<\/p>\n","protected":false},"excerpt":{"rendered":"
LONDON: Shell on Friday agreed to acquire India-based renewable power platform Sprng Energy for $1.55 billion, boosting the energy company’s low-carbon output as it shifts away from oil and gas. Shell said it would buy 100% of Solenergi Power Private Limited, the flagship company of Sprng Energy group, from UK-based investor Actis. Sprng Energy supplies solar and wind power to electricity distribution companies in India, seen as a major growth market in the power sector in the coming decades. Sprng Energy’s portfolio consists of 2.9 gigawatts-peak (GWp) of assets and a further 7.5 GWp of renewable energy projects in the […]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,260,137],"tags":[],"class_list":["post-488016","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-railways-the-times-of-india","category-the-times-of-india"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/488016","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=488016"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/488016\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=488016"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=488016"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=488016"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}