Shell agrees to buy Indian renewables firm Sprng Energy at $1.55 bln

| | New Delhi
  • 0

Shell agrees to buy Indian renewables firm Sprng Energy at $1.55 bln

Saturday, 30 April 2022 | IANS | New Delhi

Shell agrees to buy Indian renewables firm Sprng Energy at $1.55 bln

Multinational oil and gas company Shell has agreed to acquire India-based renewable power firm Sprng Energy for $1.55 billion, multiple reports said.

It aims to boost the energy company's low-carbon output as it shifts away from traditional energy sources.

Shell said it would buy 100 per cent of Solenergi Power, the flagship company of Sprng Energy group, from UK-based investor Actis.

Sprng Energy supplies solar and wind power to electricity distribution companies in India.

The deal, which is expected to close later this year, will triple Shell's renewables capacity in terms of operations.

The multinational oil and gas major aims to become a net-zero emitter by 2050.

Trending News

Surya gave me an opportunity to bat at No. 3, wanted to repay faith: Tilak Varma

Surya gave me an opportunity to bat at No. 3, wanted to repay faith: Tilak Varma

Delhi sees dense fog, lowest minimum temperature of season; air quality 'severe'

Delhi sees dense fog, lowest minimum temperature of season; air quality 'severe'

Elon Musk, Vivek Ramaswamy to lead Department of Government Efficiency: Trump

Elon Musk, Vivek Ramaswamy to lead Department of Government Efficiency: Trump

Swiggy shares surge nearly 8 pc in market debut

Swiggy shares surge nearly 8 pc in market debut

Reliance Power posts Rs 2,878 crore net profit in July-Sept quarter

Reliance Power posts Rs 2,878 crore net profit in July-Sept quarter

Jharkhand polls: Over 29 pc voter turnout recorded in 43 assembly seats till 11 AM

Jharkhand polls: Over 29 pc voter turnout recorded in 43 assembly seats till 11 AM

Vistara bids adieu with last flight to Singapore; integrated Air India takes to the skies

Vistara bids adieu with last flight to Singapore; integrated Air India takes to the skies

Sagility India shares debut 3.53 pc higher

Sagility India shares debut 3.53 pc higher

3rd T20I: India eye batting revival against SA at Centurion

3rd T20I: India eye batting revival against SA at Centurion

Veteran actor Manoj Mitra dies at 86

Veteran actor Manoj Mitra dies at 86

Singles' Day shopping festival loses its shine under China's lagging economy

Singles' Day shopping festival loses its shine under China's lagging economy

Asian Paints shares tumble over 9 pc after weak earnings

Asian Paints shares tumble over 9 pc after weak earnings

more

State Editions

Mining leases to be monitored through inspection app

14 November 2024 | PNS | Lucknow

UP witnesses tourism boom

14 November 2024 | PNS | Lucknow

UP govt to equip council school girls with financial literacy skills

14 November 2024 | PNS | Lucknow

Yogi to campaign in Jharkhand today

14 November 2024 | PNS | Lucknow

Maha Kumbh 2025 Eminent figures from Israel, US, France to take part in Ganga aarti

14 November 2024 | PNS | Lucknow

Govt accelerates comprehensive development of Scheduled Tribes

14 November 2024 | PNS | Lucknow
Delhi , Bhopal , Bhubaneswar , Ranchi , Lucknow , Chandigarh , Dehradun , Raipur

Sunday Edition

The Tuning Fork | The indebted life

10 November 2024 | C V Srikanth | Agenda

A comic journey | From Nostalgia to a Bright New Future

10 November 2024 | Supriya Ghaytadak | Agenda

A Taste of China, Painted in Red

10 November 2024 | SAKSHI PRIYA | Agenda

Cranberry Coffee and Beyond

10 November 2024 | Gyaneshwar Dayal | Agenda

The Timeless Allure of Delhi Bazaars

10 November 2024 | Kanishka srivastava | Agenda

A Soulful Sojourn in Puri and Konark

10 November 2024 | VISHESH SHUKLA | Agenda