{"id":39244,"date":"2022-04-30T02:08:02","date_gmt":"2022-04-29T20:38:02","guid":{"rendered":"https:\/\/tradebrains.in\/features\/us-shell-deal\/"},"modified":"2022-04-30T02:08:02","modified_gmt":"2022-04-29T20:38:02","slug":"us-shell-deal","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/us-shell-deal\/","title":{"rendered":"Shell signs USD 1.55 billion deal to acquire India&#8217;s Sprng Energy group"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-895512736\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Houston, Apr 30 (PTI) Shell Overseas Investment B.V., a wholly owned subsidiary of Shell plc (Shell), has signed an agreement with Actis Solenergi Limited (Actis) to acquire 100 per cent of Solenergi Power Private Limited for USD 1.55 billion and with it, the Sprng Energy group of companies.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2965966765\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p> Solenergi Power Private Limited is incorporated in Mauritius and is the direct shareholder of the Sprng Energy group of companies in India.<\/p>\n<p> Sprng Energy, headquartered in Pune, Maharashtra, will retain its existing brand and operate as a wholly owned subsidiary of Shell within Shell\u2019s Renewables and Energy Solutions Integrated Power business.<\/p>\n<p> The transaction is subject to regulatory clearance and is expected to close later this year.<\/p><div class=\"trade-content_5\" id=\"trade-3205770094\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> \u201cThis deal positions Shell as one of the first movers in building a truly integrated energy transition business in India,\u201d said Wael Sawan, Shell\u2019s Integrated Gas, Renewables and Energy Solutions Director in a press release on Friday.<\/p>\n<p> \u201cI believe it will enable Shell to become a leader across the power value chain in a rapidly growing market where electrification on a massive scale and strong demand for renewables are driving the energy transition.\u201d \t \u201cSprng Energy generates cash, has an excellent team, strong and proven development track record and a healthy growth pipeline. Sprng Energy\u2019s strengths can combine with Shell India\u2019s thriving customer-facing gas and downstream businesses to create even more opportunities for growth,\u201d Sawan said.<\/p>\n<p> According to the release, the solar and wind assets Shell acquires through the deal will triple Shell\u2019s present renewable capacity in operation and help deliver its \u2018Powering Progress\u2019 strategy.<\/p>\n<p> An important part of the strategy is to develop a best-in-class integrated power business, which will help Shell to reach its target of becoming a profitable net-zero emissions energy business by 2050, the release said4\/30\/2022 2:07:46 AM  RHL<\/p>\n<div class=\"trade-after-content\" id=\"trade-1704444033\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Houston, Apr 30 (PTI) Shell Overseas Investment B.V., a wholly owned subsidiary of Shell plc (Shell), has signed an agreement with Actis Solenergi Limited (Actis) to acquire 100 per cent of Solenergi Power Private Limited for USD 1.55 billion and with it, the Sprng Energy group of companies. Solenergi Power Private Limited is incorporated in [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31],"tags":[],"class_list":["post-39244","post","type-post","status-publish","format-standard","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Shell signs USD 1.55 billion deal to acquire India&#039;s Sprng Energy group - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/us-shell-deal\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Shell signs USD 1.55 billion deal to acquire India&#039;s Sprng Energy group\" \/>\n<meta property=\"og:description\" content=\"Houston, Apr 30 (PTI) Shell Overseas Investment B.V., a wholly owned subsidiary of Shell plc (Shell), has signed an agreement with Actis Solenergi Limited (Actis) to acquire 100 per cent of Solenergi Power Private Limited for USD 1.55 billion and with it, the Sprng Energy group of companies. 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