The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. Yours to Make. This content is protected by copyright and may not be reused. For more, visit, Actis is a leading global investor in sustainable infrastructure. Safety, Corporate Social Responsibility (CSR) Policy. Sprng Energy Image Source - Sprng Energy. Shell closes USD-1.55bn acquisition of India's Sprng Energy Renewables Now Royal Dutch Shell Plc (AMS:RDSA) on Tuesday announced it has wrapped up the acquisition of Indian renewable energy platform Sprng Energy, which owns 2.9 GWp of solar and wind energy assets.Under. Shell Eco-marathon- Win cash awards and more! Also, in this press release we may refer to Shells Net Carbon Footprint or Net Carbon Intensity, which include Shells carbon emissions from the production of our energy products, our suppliers carbon emissions in supplying energy for that production and our customers carbon emissions associated with their use of the energy products we sell. According to Mercoms 1H and Q2 2022 Solar Funding and M&AReport, In 1H 2022, there were 53 solar M&A transactions compared to 54 transactions in 1H 2021. The contents of websites referred to in this press release do not form part of this press release. Get our leading market intelligence If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com. The transaction is subjected to regulatory clearance. Private Securities Litigation Reform Act of 1995) concerning the financial condition, results of operations and businesses of Shell. From pv magazine India Shell has. The companies in which Shell plc directly and indirectly owns investments are separate legal entities. Shale Oil and Gas, Putting Safety First in Shale Oil and Gas, Leveraging Technology in Shale Oil and Gas, Social and Environmental Responsibility in Shales, View In this press release Shell, Shell Group and Group are sometimes used for convenience where references are made to Shell plc and its subsidiaries in general. Shell Energy, View Sprng Energy supplies solar and wind power to electricity distribution companies in India. Shell Overseas Investment B.V., a wholly owned subsidiary of Shell plc (Shell), signed an agreement with Actis Solenergi Limited (Actis) to acquire 100 percent of Solenergi Power Private Limited for | News | News Shell has completed the $1.55 billion acquisition of Solenergi Power, an Actis company that holds a 100% stake in Indian renewables developer Sprng Energy. No assurance is provided that future dividend payments will match or exceed previous dividend payments. Telegram. The solar and wind assets Shell acquires through the deal will triple Shells present renewable capacity in operation and help deliver its Powering Progress strategy. Shell fuels, View Carbon Capture and Storage, View We have added to our renewable generation capabilities by acquiring Savion, a US-based solar and energy storage specialist; Solar-Konzept Italia, an Italian solar specialist; and WestWind, a wind specialist based in Australia. Shell Liquefied Petroleum Gas (LPG), View Your email address will not be published. Headquartered in Pune, Maharashtra, Sprng Energy is a renewable energy platform set up in India by Actis an investor in sustainable infrastructure, with a total commitment of $450 million of equity from Actis Energy Fund 4 to set up 2.5 GW of renewable energy capacity including solar and wind by 2020. This press release may contain certain forward-looking non-GAAP measures such as cash capital expenditure. Their latest acquisition was SP Infra - Solar Energy on April 19, 2019. The use of the term Shells Net Carbon Footprint or Net Carbon Intensity are for convenience only and not intended to suggest these emissions are those of Shell plc or its subsidiaries. Shell is advancing its Powering Progress program with the #acquisition of a platform of solar and wind assets based in India. Shell Sulphur Solutions, View Investors are urged to consider closely the disclosure in our Form 20-F, File No 1-32575, available on the SEC website www.sec.gov. Energy and innovation, View Shell only controls its own emissions. 381. For more, visit, In India, Shells existing gas business (Shell Energy) serves customers through a fully-owned and integrated value chain competitive supply from a global LNG portfolio, re-gasification at the Hazira facility, and downstream customer sales. Shell Catalysts & Technologies, View Transparency and sustainability reporting, View Entities over which Shell has significant influence but neither control nor joint control are referred to as associates. ESG information hub, View The Future. It is expected that the transaction will close in 2022. Shell has completed the $1.55 billion acquisition of Solenergi Power, an Actis company that holds a 100% stake in Indian renewables developer Sprng Energy However, if society is not net zero in 2050, as of today, there would be significant risk that Shell may not meet this target. All forward-looking statements contained in this press release are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. Currently covers the latest global trends in the buzzing clean energy sector - from solar energy to emobility and beyond at FirstView Media. Join our newsletter. Annual General Meeting, Shell plc 2022 Annual General Meeting webcast, View Motoring tips and advice, Shell Fuel Economy Fact or Fiction Report, View From pv magazine India Shell has announced Debt information, View Hazira Port Pvt Ltd, View Annual General Meeting, View For more, visit, In February 2021, Shell announced its Powering Progress strategy, including details of how it expects to achieve its target to be a net-zero emissions energy business by 2050. About half of . Transparency and sustainability reporting, Voluntary reporting standards and ESG ratings, View Panvel Municipal Corporation Plans to Install Rooftop Solar Systems at 5 KKR to Invest $400 Million in Decarbonization Platform Serentica Renewables. People and communities, View Shell Chemicals, The benefits of chemicals in everyday life, Chemical recycling: tackling plastic waste, View All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Shell acquires Sprng Energy. Shell Overseas Investment BV, a wholly owned subsidiary of Shell Plc., announced that it has signed an agreement with UK-based investor Actis to acquire 100% of Solenergi Power Private Ltd. for $1.55 billion to acquire the Sprng Energy group of companies. Our strategy: Powering Progress, View In the future, as society moves towards net-zero emissions, we expect Shells operating plans to reflect this movement. Sprng Energys strengths can combine with Shell Indias thriving customer-facing gas and downstream businesses to create even more opportunities for growth.. Additional risk factors that may affect future results are contained in Shell plcs Form 20-F for the year ended December 31, 2021 (available at www.shell.com/investor and www.sec.gov). In light of these risks, results could differ materially from those stated, implied or inferred from the forward-looking statements contained in this press release. Valuation. Environment Compliance Reports from Shell Energy India Pvt. However, Shells operating plans cannot reflect our 2050 net-zero emissions target and 2035 NCF target, as these targets are currently outside our planning period. Careers FAQs, Encouraging Happiness to Enable Greatness, Solving puzzles, at home and in the office, Growing as a professional while growing as a person, Fresh minds for a fresh new direction in energy, Being at the forefront of an industry in transition, Growing technical expertise with precision and care, Find a Job in the Shell Graduate Programme, Shell to acquire Sprng Energy group, one of Indias leading renewable power platforms. Shell Liquefied Petroleum Gas (LPG), View Industrial Lubricants and Oils for Business, View In the future, as society moves towards net-zero emissions, we expect Shells operating plans to reflect this movement. Learn how your comment data is processed. Shell Service Stations, Introducing Vehicle Sanitization Service at Shell, Shell Helix Oil Change+ (4 Wheeler Lube Bay), Our Response to COVID-19 at Shell Fuel Stations, View Hazira Port Pvt Ltd, View We have a further 38 GW of renewable generation capacity in our pipeline of future projects. It is headquartered in Pune, India. About half of the $1.55 billion will be cash capex, and the rest will be debt obligations. This press release contains forward-looking statements (within the meaning of the U.S. This press release may contain certain forward-looking non-GAAP measures such as cash capital expenditure. Sustainability, View Shell Acquires Sprng Energy Group for $1.55 Billion. Shell Catalysts & Technologies, Subscribe to Shell Catalysts & Technologies, View View our privacy policy. Offshore staff. 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 . The solar and wind assets of Shell acquired through the deal are expected to help triple the companys renewable capacity in operation and help deliver its Powering Progress strategy and reach its target of becoming a profitable net-zero emissions energy business by 2050. London: Shell Overseas Investment B.V., a wholly owned subsidiary of Shell plc (Shell), today signed an agreement with Actis Solenergi Limited (Actis) to acquire 100% of Solenergi Power Private Limited for $1.55 billion and with it, the Sprng Energy group of companies. Solenergi Power is incorporated in Mauritius and is the direct shareholder of the Sprng Energy group. The Acquisition is valued at $1.55 billion. Next Kraftwerke will operate as a portfolio company in the Shell group under its existing brand and core management team following the acquisition. All forward-looking statements contained in this press release are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. In India, its Shell Energy gas business serves customers through a fully owned and integrated value chain. Shell Construction and Road, View Accordingly, they reflect our Scope 1, Scope 2 and Net Carbon Footprint (NCF) targets over the next 10 years. Candidate Resource Centre, 4 tips to excel in a Shell face-to-face interview, 7 tips to prepare Students & Graduates for an online video Interview, 10 employees share their first week at Shell, 9 ways to help you find the right career path, View Its portfolio consists of 2.9 gigawatts-peak1 (GWp) of assets (2.1 GWp operating and 0.8 GWp contracted) with a further 7.5 GWp of renewable energy projects in the pipeline. Shell Overseas Investment B.V., a wholly owned subsidiary of Shell plc (Shell), has secured its total acquisition of Solenergi Power Private Limited and the Sprng Energy group of companies from Actis Solenergi Limited (Actis).. Actis' Sprng Energy, founded in 2017, develops and manages renewable energy facilities, such as solar and wind farms and infrastructure assets, based in Pune, India. Shell Energy Marketing & Trading, Documents submitted to Central Electricity Regulatory Commission, More and cleaner energy solutions for your business, View An important part of Powering Progress 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. Digitalisation in Energy, View There are also 7.5GWp of renewable energy projects in its pipeline. The role technology plays, Chief Technology Officer and Chief Scientists, View Masdar Chairman Dr. Sultan Al Jaber Calls For Maximum Energy, Minimum Karnataka Aattracts Huge Investment in Renewable Energy at Invest Karnatak 2022.
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