India's Aditya Birla Renewables to acquire Shell's Sprng Energy for $1.8b

Sprng Energy employees will continue with the new owner after completion.

Aditya Birla Renewables Limited (ABRen) has agreed to acquire Sprng Energy from Shell plc for $1.8b.

The acquisition includes 100% of Solenergi Power Private Limited, the holding company of the Sprng Energy group of companies, from Shell Overseas Investment B.V., a wholly owned subsidiary of Shell plc.

As part of the agreement, employees of Sprng Energy will transition to Aditya Birla Renewables, ensuring workforce continuity and maintaining operational stability across the business.

The deal aligns with Shell's strategy to streamline its power business and recycle capital toward its asset-backed trading operations.

“We are high-grading our power portfolio and recycling capital in service of our asset-backed trading strategy outlined in Capital Markets Day 2025,” said Machteld de Haan, president of Downstream, Renewables and Energy Solutions at Shell. “This is another step in building a more focused, competitive and resilient business while improving returns year on year towards 2030.”

The transaction is expected to close by the end of 2026, subject to regulatory approvals and customary closing conditions.