According to the Financial Times, oil giant Shell is selling its solar and wind energy business in India, with an enterprise value of about $1.8 billion (about 12.2 billion yuan, 1 dollar ≈ 6.78 yuan).
On July 13, Aditya Birla Group, a large Indian conglomerate, announced that its Aditya Birla Renewables Limited (ABRen) had signed a final agreement today. It will acquire 100% of Solenergi Power Private Limited from Shell Overseas Investment Limited (Shell Overseas Investment B. V.), which holds a stake in Sprng Energy.
"This transaction is one of the largest acquisitions in India 's renewable energy sector in terms of transaction value and asset size." According to Aditya Birla's announcement, the acquisition fund will consist of three parts: debt financing and equity injection from Grasim Industries, the parent company of ABRen. And equity investments in funds managed by Global Infrastructure Partners (GIP), BlackRock's investment platform.
The transaction adds 5 GWp renewable energy projects to ABRen, including 3.3 GWp in operation and 1.7 GWp under construction.
It is reported that the transaction still needs to obtain regulatory approval from relevant departments and is expected to be completed by the end of 2026.
This is not the first time Shell has sold renewable energy-related assets. In March
2024, there were media reports that Savion, an American renewable energy developer owned by Shell, had sold about a quarter of its project assets. The assets to be sold are solar power generation and energy storage assets under development or partial development at that time, with a maximum scale of 10.6GW.
Moreover, in January 2025, a Spanish media reported that Shell had suspended its solar, offshore wind and green hydrogen projects in Brazil. Then in March 2025, Brazilian media Valor reported that Shell revealed that it would stop its solar and onshore wind power projects in Brazil as part of its business portfolio adjustment.
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