Shell Agrees to Buy India’s Sprng Energy for $1.55 Billion
- Energy giant accelerates renewables expansion with deal
- Sprng Energy supplies solar, wind power to customers in India
This article is for subscribers only.
Shell Plc agreed to buy Indian renewable power supplier Sprng Energy Pvt for $1.55 billion, accelerating the oil giant’s transition to low-carbon energy.
The deal will triple Shell’s operational renewables capacity and help it achieve net-zero carbon emissions by 2050, the company said in a statement on Friday. The transaction was first reported by Bloomberg.