Shell Overseas Investment B.V., a wholly owned subsidiary of Shell plc, has signed an agreement with Aditya Birla Renewables Limited (ABRen) to divest its entire stake in Solenergi Power Private Limited, including the Sprng Energy group of companies, in a transaction valued at $1.8 billion, according to a press release from Shell.

“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.”

Sprng Energy’s workforce will remain with the new owner, ensuring continuity of employment and supporting the company’s operational reliability.

The transaction is anticipated to close by the end of 2026, pending regulatory approvals and the fulfillment of customary closing conditions.

Sprng Energy, which supplies solar and wind power to distribution companies across India, has a portfolio of 5.0 Gigawatt-peak (GWp), including 3.3 GWp of operating assets and 1.7 GWp of contracted projects. Shell confirmed that Sprng Energy employees will continue their employment under the new ownership, ensuring continuity for the workforce and operational reliability.

India remains a strategic market for Shell, which continues to operate in LNG, downstream gas sales, mobility, and lubricants. The company recently expanded its presence through Raj Petro Specialities, underscoring its long‑term commitment to the country’s energy sector.

ABRen serves as the Aditya Birla Group’s dedicated renewable energy platform, with Global Infrastructure Partners, part of BlackRock, as a strategic investor. The company manages a diversified portfolio across India, encompassing solar, wind, hybrid, floating solar, and battery storage projects.