Shell sells Sprng Energy to Aditya Birla Renewables for USD1.8 billion
(Alliance News) - Shell PLC on Monday said it has sold Solenergi Power Private Ltd, which includes the Sprng Energy group of companies, to Aditya Birla Renewables Ltd for USD1.8 billion.
The London-based oil and gas exploration company said the deal is expected to complete by the end of 2026, subject to regulatory approval.
"This agreement reflects Shell's continued focus on adjusting the portfolio in our power business," said Machteld de Haan, president, Downstream, Renewables & 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," de Haan added.
Sprng Energy supplies solar and wind power to electricity distribution companies in India. Its portfolio consists of 5.0 gigawatts-peak of assets.
Shell bought Solenergi Power Private Ltd, including Sprng Energy, back in 2022 for USD1.55 billion.
Late 2025, reports suggested the FTSE 100-listing was looking to sell the business with the Economic Times stating Barclays PLC had been appointed to advise on a potential sale.
Shares in Shell rose 2.2% to 3,106.50 pence each in London on Monday afternoon.
By Jeremy Cutler, Alliance News reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2026 Alliance News Ltd. All Rights Reserved.
The articles, information, and content displayed on this webpage may include materials prepared and provided by third parties. Such third-party content is offered for informational purposes only and is not endorsed, reviewed, or verified by Morningstar.
Morningstar makes no representations or warranties regarding the accuracy, completeness, timeliness, or reliability of any third-party content displayed on this site. The views and opinions expressed in third-party content are those of the respective authors and do not necessarily reflect the views of Morningstar, its affiliates, or employees.
Morningstar is not responsible for any errors, omissions, or delays in this content, nor for any actions taken in reliance thereon. Users are advised to exercise their own judgment and seek independent financial advice before making any decisions based on such content. The third-party providers of this content are not affiliated with Morningstar, and their inclusion on this site does not imply any form of partnership, agency, or endorsement.
Popular
3 Stocks to Sell and 3 Stocks to Buy for October
The 10 Best Companies to Invest in Now
3 Stocks to Invest In With More Room to Run
14 Elite Funds and ETFs, and 5 Popular Funds That Just Missed the Mark
United States