Shell has agreed to sell its Indian renewable energy platform, Sprng Energy, to Aditya Birla Renewables Limited (ABRen) in a deal valued at $1.8 billion, marking another step in the energy major's strategy to streamline its power business.

 

Under the agreement, Shell Overseas Investment B.V., a wholly owned subsidiary of Shell plc, will divest its entire stake in Solenergi Power Private Limited, which includes the Sprng Energy group of companies.

 

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

 

“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.”

 

The transaction is part of Shell's broader effort to reshape its power portfolio by reallocating capital toward businesses aligned with its long-term trading strategy.

 

Sprng Energy's employees will continue with the new owner, ensuring workforce continuity and uninterrupted operations following the completion of the transaction.