Actis, a global investor in sustainable infrastructure, has agreed to sell Solenergi Power Private Limited, the flagship company for its Sprng Energy platforms (Sprng), one of India’s largest renewable energy companies, to Shell Overseas Investments (Shell) for $1.55 billion.
Sprng Energy supplies solar and wind power to electricity distribution companies in India.
Sprng is an Actis Energy 4 fund investment. In October 2021 Actis announced its latest fund, Actis Energy 5, had closed with US$6 billion of investable capital, which will be used to mobilise further capital towards the global energy transition.
The transaction is subject to regulatory clearance and is expected to close later in 2022.
