Shell to buy Indian renewable power platform from Actis for $1.55b

Shell branding is seen at a petrol station in west London, January 29, 2015. REUTERS/Toby Melville

Shell Plc on Friday agreed to acquire India-based renewable power platform Sprng Energy group for $1.55 billion, as the global oil and gas major looks to expand its low-carbon power generation portfolio in the country.

Shell said its unit, Shell Overseas Investment, would buy 100% of Solenergi Power Private Limited, the flagship company of Sprng Energy group, from UK-based investor Actis.

Reuters

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