Shell to sell Sprng Energy to Aditya Birla Renewables for $1.8bn

(Sharecast News) - Shell said on Monday that it has agreed to sell Solenergi Power Private Limited, which includes the Sprng Energy group of companies, to Aditya Birla Renewables Limited (ABRen) for $1.8bn. The deal is expected to complete by the end of this year, subject to regulatory approval and closing conditions.

Machteld de Haan, president Downstream, Renewables and Energy Solutions at Shell, said: "This agreement reflects Shell's continued focus on adjusting the portfolio in our power business.

"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", Shell 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.