Shell Acquires Sprng Energy Group for $1.55 Billion. Industrial Lubricants and Oils for Business, View Sprng Energy acquired 1 company. This press release may contain certain forward-looking non-GAAP measures such as cash capital expenditure. Sprng Energy can leverage Shell Indias thriving downstream and customer-facing businesses to provide even greater growth opportunities. Renewables and Energy Solutions, View Aviation, View Make the Future Live, India, An expedition powered by renewable energy, Super efficient houses make for super affordable homes, Closing the gender gap in engineering & technology. This site uses Akismet to reduce spam. Subsidiaries, Shell subsidiaries and Shell companies as used in this press release refer to entities over which Shell plc either directly or indirectly has control. Sprng Energy Acquisitions1 Acquisition. Results and reporting, View Shell has invested in companies like, Globally, Shell is investing in building our generation capacity. Additional risk factors that may affect future results are contained in Shell plcs Form 20-F for the year ended December 31, 2021 (available at www.shell.com/investor and www.sec.gov). These terms are also used where no useful purpose is served by identifying the particular entity or entities. In the future, as society moves towards net-zero emissions, we expect Shells operating plans to reflect this movement. Pinterest. However, Shells operating plans cannot reflect our 2050 net-zero emissions target and 2035 NCF target, as these targets are currently outside our planning period. The solar and wind assets Shell acquires through the deal will triple Shells present renewable capacity in operation and help deliver its Powering Progress strategy. Sustainability our approach, View Shell Acquires Sprng Energy. The contents of websites referred to in this press release do not form part of this press release. The role technology plays, Chief Technology Officer and Chief Scientists, View The energy future, View Energy and innovation, View Apr 29, 2022. Sprng Energys strengths can combine with Shell Indias thriving customer-facing gas and downstream businesses to create even more opportunities for growth.. Shell acquires Sprng Energy Group. Why Choose Shell, View Its portfolio consists of 2.9 GW (2.1 GW operating and 0.8 GW contracted) with 7.5 GW of renewable energy projects in the pipeline. Dividend information, View From pv magazine India Shell has announced Careers at Shell, View Legal Notice Terms and Conditions Privacy Policy pv magazine 2022, This website uses cookies to anonymously count visitor numbers. Sprng Energy develops and manages renewable energy facilities such as solar and wind farms and infrastructure assets. About half of the $1.55 billion will be cash capex, and the rest will be debt obligations. Environment, View Sectoral decarbonisation: transportation and industrial customers, View Additional risk factors that may affect future results are contained in Shell plcs Form 20-F for the year ended December 31, 2021 (available at www.shell.com/investor and www.sec.gov). Earlier this year, Shell announced it wouldacquire100% of Next Kraftwerkes shares, subject to approval by the regulators. The solar and wind assets Shell acquires through the deal will triple Shell's present renewable capacity in operation and help deliver its Powering Progress strategy. Shell fuels, View Solenergi Power is incorporated in Mauritius and is the direct shareholder of the Sprng Energy group of companies in India. Shell Car Care Range: Take care of your car, View Shell New Energies US LLC, a subsidiary of Royal Dutch Shell plc (Shell), has signed an agreement to buy 100% of Savion LLC (Savion), a large utility-scale solar and energy storage developer in the United States, from Macquarie's Green Investment Group. An avid reader, a cleantech enthusiast with strong experience honing the crafts of publishing and media industry. August 15. Offshore staff. The Acquisition is valued at $1.55 billion. Shell has announced that it has completed the $1.55 billion acquisition of Indian renewables developer Sprng Energy from UK investorActis. The platform is based in Pune, India, and manages infrastructure assets as well as solar and wind farms. This content is protected by copyright and may not be reused. Joint ventures and joint operations are collectively referred to as joint arrangements. The transaction is subject to regulatory clearance and is expected to close later in 2022. Welcome to NXplorers India, Shell.ai Hackathon for Sustainable and Affordable Energy - Windfarm layout Optimisation, View An important part of Powering Progress is to develop a best-in-class integrated power business, which will help Shell to reach its target of becoming a profitable net-zero emissions energy business by 2050. All Rights Reserved. Home News Shell acquires Sprng Energy group India's leading renewable power platforms shell. Please be mindful of our community standards. Shell Overseas Investment B.V., a wholly owned subsidiary of Shell plc (Shell), has signed an agreement with Actis Solenergi Limited (Actis) to acquire 100 per . Offers and competitions, Customer Feedback Form Shell Helix Ultra AH, View Shell Commercial Fuels, Shell Commercial Fuels Industrial Fuel Solutions, Shell Fuel Oil Plus and Shell Fuel Oil Extra, Shell Electronic Vendor Managed Inventory, View Sprng Energy generates cash, has an excellent team, strong and proven development track record and a healthy growth pipeline. Ltd.) to Shell Overseas Investments B.V for $1.55 billion, based on information published by Actis' press release dated 29th April 2022.. Solenergi Power Private Limited's Sprng Energy supply Renewable Energy (RE . I believe it will enable Shell to become a leader across the power value chain in a rapidly growing market where electrification on a massive scale and strong demand for renewables are driving the energy transition. For more, visit, In February 2021, Shell announced its Powering Progress strategy, including details of how it expects to achieve its target to be a net-zero emissions energy business by 2050. Though . Shell has completed the $1.55 billion acquisition of Solenergi Power, an Actis company that holds a 100% stake in Indian renewables developer Sprng Energy. Companies. Careers FAQs, View Shell Fleet Solutions, View Shell for suppliers, View Shell Car Care Range: Take care of your car, View Shell Overseas Investment, a wholly owned subsidiary of Shell, has completed its 100% acquisition of Solenergi Power and, with it, the Sprng Energy group of companies from Actis Solenergi Limited for $1.55 billion. Solenergi Power Private Limited (SPPL) is incorporated in Mauritius and is the direct shareholder of the Sprng Energy group of companies in India. About us, View Linkedin. I believe it will enable Shell to become a leader across the power value chain in a rapidly growing market where electrification on a massive scale and strong demand for renewables are driving the energy transition. News and filings, View | Shell acquires Sprng Energy group | Trainsome Made In IndiaShell Overseas Investment B.V. has completed its 100% acquisition of Solene. For more, visit. Shell Overseas Investment B.V., a wholly owned subsidiary of Shell plc (Shell), has secured its total acquisition of Solenergi Power Private Limited and the Sprng Energy group of companies from Actis Solenergi Limited (Actis).. Actis' Sprng Energy, founded in 2017, develops and manages renewable energy facilities, such as solar and wind farms and infrastructure assets, based in Pune, India. Industrial Lubricants and Oils for Business, View Shell engine oils and lubricants, View Sprng Energy supplies solar and wind power to electricity distribution companies in India. Shell Overseas Investment, a wholly owned subsidiary of Shell, has completed its 100% acquisition of Solenergi Power and, with it, the Sprng Energy group of companies from Actis Solenergi Limited for $1.55 billion. Shell Acquires Sprng Energy Group for $1.55 Billion Shell Overseas Investment B.V., a wholly owned subsidiary of Shell plc (Shell), today signed Liked by Puneet Upadhyay View Puneet's full profile Carbon Capture and Storage, View They reflect the current economic environment and what we can reasonably expect to see over the next 10 years. Energy and innovation, View Entities and unincorporated arrangements over which Shell has joint control are generally referred to as joint ventures and joint operations, respectively. has announced that it has completed the $1.55 billion acquisition of Indian renewables developer Sprng Energy from UK investor. Industrial Lubricants and Oils for Business, Sectoral decarbonisation: transportation and industrial customers, Transparency and sustainability reporting, Integrating sustainability into our activities, View WhatsApp. Find out how to contact our Media Relations team across the world. Forward-looking statements include, among other things, statements concerning the potential exposure of Shell to market risks and statements expressing managements expectations, beliefs, estimates, forecasts, projections and assumptions. Safety, View Shell Cash Card, View Shell Acquires Renewables Platform Sprng Energy Group. It is expected that the transaction will close in 2022. Shell Chemicals, View Shell Brand Licensing, View Energy and innovation, View Shell Fleet Solutions, Shell Fleet Solutions Supplementary Privacy Statement, Business Opportunity - Shell Retailership, View Sprng Energy supplies solar and wind power to electricity distribution companies in India. Sprng Energy generates cash, has an excellent team, strong and proven development track record and a healthy growth pipeline. Motorists, View Shell Energy, View Shell Cash Card, View The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. Motorsports, Shell and the World Endurance Championship, View Enjoy fresh food and beverages from deli2go at Shell, Shell Car Care Range: Take care of your car, Industrial Lubricants and Oils for Business, View Each forward-looking statement speaks only as of the date of this press release April 29, 2022. Shell fuels, View 2022 by Mercom Capital Group, LLC. Shell Sulphur Solutions, View Shale Oil and Gas, View Sunday, Jul 17, 2022 . This press release may contain certain forward-looking non-GAAP measures such as cash capital expenditure. Shell Overseas Investment B.V., a wholly owned subsidiary of Shell plc (Shell), signed an agreement with Actis Solenergi Limited (Actis) to acquire 100 percent of Solenergi Power Private Limited for | News | News Annual General Meeting, Shell plc 2022 Annual General Meeting webcast, View Readers should not place undue reliance on forward-looking statements. Sprng Energy is cash-generating, has a strong team, a proven development track record, and a healthy growth pipeline. There are a number of factors that could affect the future operations of Shell and could cause those results to differ materially from those expressed in the forward-looking statements included in this press release including (without limitation): (a) price fluctuations in crude oil and natural gas; (b) changes in demand for Shells products; (c) currency fluctuations; (d) drilling and production results; (e) reserves estimates; (f) loss of market share and industry competition; (g) environmental and physical risks; (h) risks associated with the identification of suitable potential acquisition properties and targets, and successful negotiation and completion of such transactions; (i) the risk of doing business in developing countries and countries subject to international sanctions; (j) legislative, judicial, fiscal and regulatory developments including regulatory measures addressing climate change; (k) economic and financial market conditions in various countries and regions; (l) political risks, including the risks of expropriation and renegotiation of the terms of contracts with governmental entities, delays or advancements in the approval of projects and delays in the reimbursement for shared costs; (m) risks associated with the impact of pandemics, such as the COVID-19 (coronavirus) outbreak; and (n) changes in trading conditions. On April 29, 2022, Royal Dutch Shell plc acquired renewable energy company Sprng Energy Pvt Ltd. from Actis Capital. Sustainability, View Shells operating plan, outlook and budgets are forecasted for a 10-year period and are updated every year. Likewise, the words we, us and our are also used to refer to Shell plc and its subsidiaries in general or to those who work for them. Results and reporting, View Accordingly, they reflect our Scope 1, Scope 2 and Net Carbon Footprint (NCF) targets over the next 10 years. Maximise production in captive coal mines: Ministry to GENCOs. Integrating sustainability into our activities, Producing oil and gas responsibly and efficiently, Embedding sustainability into our major projects, Investing in access to energy for communities, View Shell Overseas Investment B.V., a wholly owned subsidiary of Shell plc (Shell), has signed an agreement with Actis Solenergi Limited (Actis) to acquire 100 per . It will allow Shell to be a leader in the power value chain in India, where electrification is on an unprecedented scale and there is strong demand for renewables. The term Shell interest is used for convenience to indicate the direct and/or indirect ownership interest held by Shell in an entity or unincorporated joint arrangement, after exclusion of all third-party interest. Shell Service Stations, View London: Shell Overseas Investment B.V., a wholly owned subsidiary of Shell plc (Shell), today signed an agreement with Actis Solenergi Limited (Actis) to acquire 100% of Solenergi Power Private Limited for $1.55 billion and with it, the Sprng Energy group of companies. By Vaishali Yadav. We have added to our renewable generation capabilities by acquiring Savion, a US-based solar and energy storage specialist; Solar-Konzept Italia, an Italian solar specialist; and WestWind, a wind specialist based in Australia. AA. Enjoy fresh food and beverages from deli2go at Shell, View View However, Shells operating plans cannot reflect our 2050 net-zero emissions target and 2035 NCF target, as these targets are currently outside our planning period. Shell has invested in companies like, Globally, Shell is investing in building our generation capacity. There are a number of factors that could affect the future operations of Shell and could cause those results to differ materially from those expressed in the forward-looking statements included in this press release including (without limitation): (a) price fluctuations in crude oil and natural gas; (b) changes in demand for Shells products; (c) currency fluctuations; (d) drilling and production results; (e) reserves estimates; (f) loss of market share and industry competition; (g) environmental and physical risks; (h) risks associated with the identification of suitable potential acquisition properties and targets, and successful negotiation and completion of such transactions; (i) the risk of doing business in developing countries and countries subject to international sanctions; (j) legislative, judicial, fiscal and regulatory developments including regulatory measures addressing climate change; (k) economic and financial market conditions in various countries and regions; (l) political risks, including the risks of expropriation and renegotiation of the terms of contracts with governmental entities, delays or advancements in the approval of projects and delays in the reimbursement for shared costs; (m) risks associated with the impact of pandemics, such as the COVID-19 (coronavirus) outbreak; and (n) changes in trading conditions. This is Royal Dutch Shell's 3rd transaction in the Renewable Energy sector. Communities, View Energy and innovation, View Environment Compliance Reports from Shell Energy India Pvt. Entities and unincorporated arrangements over which Shell has joint control are generally referred to as joint ventures and joint operations, respectively. 381. Shell acquires Sprng Energy for $1.55 billion 2 months ago (2022-08-10) David Flin; Asia 740 Solar 182 Wind 196. Further information on data privacy can be found in our Data Protection Policy. Entrepreneurs and Start-ups, View Shell Chemicals, The benefits of chemicals in everyday life, Chemical recycling: tackling plastic waste, View People and communities, View Sustainability, View Credit: Shell - Advertisement - British oil and gas giant Shell has acquired the Indian renewables firm Sprng Energy. Non-GAAP measures in respect of future periods which cannot be reconciled to the most comparable GAAP financial measure are calculated in a manner which is consistent with the accounting policies applied in Shell plcs consolidated financial statements. Information for shareholders, View Hero Future Energies and Govt of Karnataka Sign MoU to Invest Indonesia Will Not Give Up Its Forests To Broaden Solar Panels Cleanwatts Signs Agreement for Two Solar PV Plants in So Tom SMRTs Bishan Depot To Have Solar Power For All Non-Traction Energy Sunsure Energy Commissions 74 MWp Open Access Solar Project in Tamil A High-Level Delegation From Chile Visits Mohammed bin Rashid Al Maktoum NTU Singapore To Invest S$5.7 Million To Increase Solar Energy Production. This deal positions Shell as one of the first movers in building a truly integrated energy transition business in India, said Wael Sawan, Shells Integrated Gas, Renewables and Energy Solutions Director. Subsidiaries, Shell subsidiaries and Shell companies as used in this press release refer to entities over which Shell plc either directly or indirectly has control. For more, visit, In February 2021, Shell announced its Powering Progress strategy, including details of how it expects to achieve its target to be a net-zero emissions energy business by 2050. For more, visit, In India, Shells existing gas business (Shell Energy) serves customers through a fully-owned and integrated value chain competitive supply from a global LNG portfolio, re-gasification at the Hazira facility, and downstream customer sales. The Future. The term Shell interest is used for convenience to indicate the direct and/or indirect ownership interest held by Shell in an entity or unincorporated joint arrangement, after exclusion of all third-party interest. Environment, Plastic waste management and initiatives at Shell, View Why Choose Shell. Get our leading market intelligence Environment, View Candidate Resource Centre, 4 tips to excel in a Shell face-to-face interview, 7 tips to prepare Students & Graduates for an online video Interview, 10 employees share their first week at Shell, 9 ways to help you find the right career path, View Shell Overseas Investment has acquired 100% of Solenergi Power and the Sprng Energy group of companies from Actis Solenergi (Actis). For more, visit, In India, Shells existing gas business (Shell Energy) serves customers through a fully-owned and integrated value chain competitive supply from a global LNG portfolio, re-gasification at the Hazira facility, and downstream customer sales. As a part of the Renewables & Energy Solutions division at Shell, the German power trader and operator of Virtual Power Plants based in Cologne strengthens its position as a power trader for renewable energies. No assurance is provided that future dividend payments will match or exceed previous dividend payments. In light of these risks, results could differ materially from those stated, implied or inferred from the forward-looking statements contained in this press release.
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