Shell to buy Indian renewable power platform for $1.55 billion

Representative image. Credit: Reuters photo

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 a 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.

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