Shell Overseas Investment will buy Solenergi Power, a 100 percent stake in Indian solar developer Sprng Energy, from Britain's Actis for $1.55 billion.
Established in 2017, Sprng Energy has more than 2.9GWp of assets in India, with another 7.5GWp of renewable energy projects in the pipeline. The company mainly targets transmission and distribution companies in India, providing them with solar and wind power.