Dutch-based Shell Overseas Investment B.V. has completed its 100% acquisition of Solenergi Power Private and with it, the Sprng Energy group of companies from Actis Solenergi (Actis).
Actis founded the renewable energy platform Sprng Energy in 2017, and it is based in Pune, India. It develops and manages renewable energy facilities like solar and wind farms as well as infrastructure assets.
The deal will triple Shell’s current operational renewable energy capacity, which will support the company’s Powering Progress strategy. The creation of an integrated power business, which will assist Shell in achieving its goal of running a profitable net-zero emissions energy business by 2050, is a crucial component of Powering Progress.
Image source: Shell