Shell to Sell Sprng Energy to Aditya Birla Renewables in $1.8 Billion Deal

Shell Overseas Investment B.V., a wholly owned subsidiary of Shell plc, has signed an agreement to sell 100% of Solenergi Power Private Limited, including the Sprng Energy group of companies, to Aditya Birla Renewables Limited (ABRen) for $1.8 billion.

The acquisition will significantly expand Aditya Birla Renewables’ renewable energy portfolio, adding 5 GWp of assets, comprising 3.3 GWp of operational capacity and 1.7 GWp of contracted projects, spanning solar and wind power generation in India.

The transaction is expected to close by the end of 2026, subject to regulatory approvals and customary closing conditions. Employees of Sprng Energy will continue with the business under the new ownership, ensuring operational continuity.

Commenting on the transaction, Machteld de Haan, President, Downstream, Renewables and Energy Solutions at Shell, said the divestment aligns with the company’s strategy of reshaping its power business.

“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. This is another step in building a more focused, competitive and resilient business while improving returns year on year towards 2030,” she said.

As outlined during its Capital Markets Day 2025, Shell is streamlining its power portfolio by prioritising asset-backed trading, flexible generation and disciplined project execution to improve returns on average capital employed by 2030.

For the Aditya Birla Group, the acquisition reinforces its commitment to expanding renewable energy generation through Aditya Birla Renewables Limited, the conglomerate’s dedicated clean energy platform. The company is backed by Global Infrastructure Partners (GIP), part of BlackRock, as a strategic investor and develops a diversified portfolio of solar, wind, hybrid, floating solar and battery storage projects across India.

Despite the divestment, Shell reiterated that India remains a key market for its broader energy business. The company continues to operate across the LNG value chain, mobility solutions and lubricants, following its recent acquisition of Raj Petro Specialities, while focusing on businesses aligned with its long-term growth strategy.