ONGC in talks to buy Sprng Energy's 125MW operating solar asset

Shell acquired renewable energy platform Sprng Energy from private equity investor Actis in August 2022 for an enterprise value of $1.55 billion. Sprng then operated 2.1 GW of renewable energy assets. Shell aims to stay invested in Sprng Energy while selling out some of its operational and under-construction projects, according to people cited earlier. Several renewable energy projects are on the block in the country today, with some early private equity investors seeking exit and some promoters looking to recycle capital