Shell Overseas Investment B.V., a wholly owned subsidiary of Shell plc (Shell), has completed its 100% acquisition of Solenergi Power Private Limited, and with it, the Sprng Energy group of companies from Actis Solenergi Limited (Actis).
Sprng Energy, set up in 2017 by Actis, is a renewable energy platform based in Pune, India, and develops and manages renewable energy facilities such as solar and wind farms and infrastructure assets.
The solar and wind assets Shell acquires through the deal will triple Shell’s present renewable capacity in operation and help deliver its Powering Progress strategy. An important part of Powering Progress is to develop an integrated power business, which will help Shell reach its target of becoming a profitable net zero emissions energy business by 2050.
For more news and technical articles from the global renewable industry, read the latest issue of Energy Global magazine.
The Summer 2022 issue of Energy Global hosts an array of technical articles focusing on wind, solar, biofuels, green hydrogen, geothermal, and more. This issue also features a regional report discussing the outlook for renewables in the US.
Read the article online at: https://www.energyglobal.com/special-reports/09082022/shell-completes-acquisition-of-renewable-platform-sprng-energy-group/
You might also like
Avangrid, Inc. has installed the first five GE Haliade-X turbines for the Vineyard Wind 1 project, and is preparing to deliver first power.