Shell PLC expects final bids this week for its Indian renewable energy unit, Sprng Energy. The deal valuation exceeds $1.6 billion. This valuation highlights strong investor appetite for Indian green energy assets.
A joint offer from the National Investment and Infrastructure Fund (NIIF) and Singapore's Temasek is reportedly a leading contender. Other bidders include KKR, Actis, and the Aditya Birla Group.
The divestment supports Shell's pivot to core oil, gas, and liquefied natural gas (LNG) operations. Shell aims to unlock capital and streamline its business. The company acquired Sprng Energy from Actis in 2022. The acquisition price was $1.55 billion.