Sprng Energy Pvt is nearing a deal for Shell Plc to acquire the Indian renewable power producer for about $1.8 billion including debt, people with knowledge of the matter said.
Shell was among the bidders for Sprng, along with Adani Group and renewable energy firm Greenko, Bloomberg News reported in March.
Sprng Energy is a renewable energy platform set up by Actis with a commitment of $450 million from one of the firm’s funds, according to its website. It has about 2,503 megawatt-peak of solar projects and roughly 498 MW of wind projects operating or in development, the website shows.
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