Shell Overseas Investment B.V, a wholly-owned subsidiary of Shell plc has notified its 100 per cent acquisition of Solenergi Power Private Limited and the Sprng Energy group of companies from Actis Solenergi Limited. Through this acquisition, the solar and wind assets of Shell will be three folded.
Actis established the renewable energy platform Sprng Energy in 2017. It is situated in Pune, India. It develops and manages renewable energy facilities like solar and wind farms as well as infrastructural assets.
In July 2022, Nickel Asia Corporation subsidiary Emerging Power signed a joint venture agreement with Shell business unit Shell Overseas Investments to develop renewable energy projects in the Philippines. With a main focus on utility-scale solar photovoltaic projects, the partners will build, own, operate, and maintain onshore renewable projects throughout the nation. As per the company statement, 1 GW of solar PV could provide the Philippines’ annual daytime power needs for almost 1.2 million houses.