Shell acquires 2.9 GW renewable portfolio in India

Shell promised that the transaction would position itself as one of the first moves to create an integrated energy conversion business in India.

Shell Foreign Investment, subsidiary ShellActis has announced a deal with Solenergi Limited to buy 100% Solenergi Power Private for USD 1.55 billion, with 2.9 GW peak assets and 7.6 GW of renewable energy projects being manufactured in India.

Receives high and clean energy shell @spngenergyOne of India’s leading renewable energy sites.

This agreement marks another important step in expanding our integrated e-commerce business. https://t.co/ReAxHtqmOS # Powerring improvement pic.twitter.com/kssXZnV8yq

– shell (@ shell) April 29, 2022

The company promised in a statement Solar and wind properties Its current renewable capacity derived from the contract will triple in operation. In addition, he pointed out that it would help implement his empowerment improvement strategy.

Similarly, Shell explained that an important part of this strategy is to create a better-in-class integrated energy business. This, he said, will help achieve the goal of becoming a profitable business Zero emission energy Net by 2050.

On the other hand, Vel ChavanDirector of Integrated Gas, Renewable Energy and Energy Solutions at Shell, the transaction company is one of the first promoters in building an integrated energy conversion business in India.

“Spng Energy makes money, has an excellent team, strong and proven growth record and a healthy growth pipeline. The strength of Sprng Energy is that it can create even more growth opportunities with Shell India’s affluent customer-facing downline and gas businesses. ”

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