New Delhi - Shell Overseas Investment B.V., a wholly owned subsidiary of Shell plc, today signed an agreement with Aditya Birla Renewables Limited (ABRen) to sell 100% of Solenergi Power Private Limited, which includes the Sprng Energy group of companies, for $1.8 billion.
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\r\n", "date": "2026-07-13T13:00:00.000Z"}, "id": "/content/shell/countries/india/en_in/about-us/news-and-publications/news-and-media-releases-2026/shell-to-sell-sprng-energy-group/jcr_content/root/main/section/page_header"}, {"organism": "PromoSimple.Text", "color": "inherited", "id": "/content/shell/countries/india/en_in/about-us/news-and-publications/news-and-media-releases-2026/shell-to-sell-sprng-energy-group/jcr_content/root/main/section/text", "model": {"text": "\u201cThis agreement reflects Shell\u2019s continued focus on adjusting the portfolio in our power business,\u201d said Machteld de Haan, President, Downstream, Renewables and Energy Solutions at Shell. \u201cWe are high-grading our power portfolio and recycling capital in service of our asset-backed trading strategy outlined in Capital Markets Day 2025. This is another step in building a more focused, competitive and resilient business while improving returns year on year towards 2030.\u201d
\nSprng Energy employees will continue employment with the new owner, supporting continuity for the workforce and ongoing operational reliability.
\nThe transaction is expected to complete by the end of 2026, subject to regulatory approval and closing conditions.
\nUK / International Media Relations: +44 20 7934 5550
\nAsia Pacific Media Relations: apac-media@shell.com
\nShell India: parul.suri@shell.com
\nThe companies in which Shell plc directly and indirectly owns investments are separate legal entities. In this announcement \u201cShell\u201d, \u201cShell Group\u201d and \u201cGroup\u201d are sometimes used for convenience to reference Shell plc and its subsidiaries in general. Likewise, the words \u201cwe\u201d, \u201cus\u201d and \u201cour\u201d are also used to refer to Shell plc and its subsidiaries in general or to those who work for them. These terms are also used where no useful purpose is served by identifying the particular entity or entities. \u2018\u2018Subsidiaries\u2019\u2019, \u201cShell subsidiaries\u201d and \u201cShell companies\u201d as used in this announcement refer to entities over which Shell plc either directly or indirectly has control. The terms \u201cjoint venture\u201d, \u201cjoint operations\u201d, \u201cjoint arrangements\u201d, and \u201cassociates\u201d may also be used to refer to a commercial arrangement in which Shell has a direct or indirect ownership interest with one or more parties. The term \u201cShell interest\u201d 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.
\r\nForward-Looking statements
\r\nThis announcement contains forward-looking statements (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995) concerning the financial condition, results of operations and businesses of Shell. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are statements of future expectations that are based on management\u2019s current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Forward-looking statements include, among other things, statements concerning the potential exposure of Shell to market risks and statements expressing management\u2019s expectations, beliefs, estimates, forecasts, projections and assumptions. These forward-looking statements are identified by their use of terms and phrases such as \u201caim\u201d; \u201cambition\u201d; \u2018\u2018anticipate\u2019\u2019; \u201caspire\u201d, \u201caspiration\u201d, \u2018\u2018believe\u2019\u2019; \u201ccommit\u201d; \u201ccommitment\u201d; \u2018\u2018could\u2019\u2019; \u201cdesire\u201d; \u2018\u2018estimate\u2019\u2019; \u2018\u2018expect\u2019\u2019; \u2018\u2018goals\u2019\u2019; \u2018\u2018intend\u2019\u2019; \u2018\u2018may\u2019\u2019; \u201cmilestones\u201d; \u2018\u2018objectives\u2019\u2019; \u2018\u2018outlook\u2019\u2019; \u2018\u2018plan\u2019\u2019; \u2018\u2018probably\u2019\u2019; \u2018\u2018project\u2019\u2019; \u2018\u2018risks\u2019\u2019; \u201cschedule\u201d; \u2018\u2018seek\u2019\u2019; \u2018\u2018should\u2019\u2019; \u2018\u2018target\u2019\u2019; \u201cvision\u201d; \u2018\u2018will\u2019\u2019; \u201cwould\u201d and similar terms and phrases. 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 announcement, including (without limitation): (a) price fluctuations in crude oil and natural gas; (b) changes in demand for Shell\u2019s 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, including climate change; (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 tariffs and 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, regional conflicts, such as the Russia-Ukraine war and the conflict in the Middle East, and a significant cyber security, data privacy or IT incident; (n) the pace of the energy transition; and (o) changes in trading conditions. No assurance is provided that future dividend payments will match or exceed previous dividend payments. All forward-looking statements contained in this announcement are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. Readers should not place undue reliance on forward-looking statements. Additional risk factors that may affect future results are contained in Shell plc\u2019s Form 20-F for the year ended December 31, 2025 (available at www.shell.com/investors/news-and-filings/sec-filings.html and www.sec.gov). These risk factors also expressly qualify all forward-looking statements contained in this announcement and should be considered by the reader. Each forward-looking statement speaks only as of the date of this announcement, July 13, 2026. Neither Shell plc nor any of its subsidiaries undertake any obligation to publicly update or revise any forward-looking statement as a result of new information, future events or other information. In light of these risks, results could differ materially from those stated, implied or inferred from the forward-looking statements contained in this announcement.
\r\nShell\u2019s net carbon intensity
\r\nAlso, in this announcement we may refer to Shell\u2019s \u201cnet carbon intensity\u201d (NCI), which includes Shell\u2019s carbon emissions from the production of our energy products, our suppliers\u2019 carbon emissions in supplying energy for that production and our customers\u2019 carbon emissions associated with their use of the energy products we sell. Shell\u2019s NCI also includes the emissions associated with the production and use of energy products produced by others which Shell purchases for resale. Shell only controls its own emissions. The use of the terms Shell\u2019s \u201cnet carbon intensity\u201d or NCI is for convenience only and not intended to suggest these emissions are those of Shell plc or its subsidiaries.
\r\nShell\u2019s net-zero emissions target
\r\nShell\u2019s operating plan and outlook are forecasted for a three-year period and ten-year period, respectively, and are updated every year. They reflect the current economic environment and what we can reasonably expect to see over the next three and ten years. Accordingly, the outlook reflects our combined Scope 1 and 2 target, NCI target and our oil products ambition over the next ten years. However, Shell\u2019s operating plan and outlook cannot reflect our 2050 net-zero emissions target, as this target is outside our planning period. Such future operating plans and outlooks could include changes to our portfolio, efficiency improvements and the use of carbon capture and storage and carbon credits. In the future, as society moves towards net-zero emissions, we expect Shell\u2019s operating plans and outlooks to reflect this movement. However, if society is not net zero in 2050, as of today, there would be significant risk that Shell may not meet this target.
\r\nForward-Looking non-GAAP measures
\r\nThis announcement may contain certain forward-looking non-GAAP measures such as free cash flow and underlying operating expenses. We are unable to provide a reconciliation of these forward-looking non-GAAP measures to the most comparable GAAP financial measures because certain information needed to reconcile those non-GAAP measures to the most comparable GAAP financial measures is dependent on future events some of which are outside the control of Shell, such as oil and gas prices, interest rates and exchange rates. Moreover, estimating such GAAP measures with the required precision necessary to provide meaningful reconciliation is extremely difficult and could not be accomplished without unreasonable effort. 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 plc\u2019s consolidated financial statements.
\r\nThe contents of websites referred to in this announcement do not form part of this announcement.
\r\nWe may have used certain terms, such as resources, in this announcement that the United States Securities and Exchange Commission (SEC) strictly prohibits us from including in our filings with the SEC. Investors are urged to consider closely the disclosure in our Form 20-F, File No 1-32575, available on the SEC website www.sec.gov.
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