Shell completes acquisition of renewables platform Sprng Energy group

Aug 9, 2022

Shell Overseas Investment B.V., a wholly owned subsidiary of Shell plc (Shell), has completed its 100% acquisition of Solenergi Power Private Limited and with it, the Sprng Energy group of companies from Actis Solenergi Limited (Actis).

Sprng Energy, set up in 2017 by Actis, is a renewable energy platform based in Pune, India, and develops and manages renewable energy facilities such as solar and wind farms and infrastructure assets.

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. An important part of Powering Progress is to develop an integrated power business, which will help Shell reach its target of becoming a profitable net-zero emissions energy business by 2050.

Notes to editors

• On April 29, 2022, Shell announced the signing of an agreement to purchase Solenergi Power Private Limited and the Sprng Group of Companies.
• Subject to closing adjustments, about half of the previously announced transaction value ($1.55 billion) will be reported as cash capex and the remainder assumed as debt obligations.
• 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 http://www.shell.com/poweringprogress.
• Actis is a leading global investor in sustainable infrastructure. For more, visit https://www.act.is/

Cautionary note

The companies in which Shell plc directly and indirectly owns investments are separate legal entities. In this announcement, “Shell”, “Shell Group” and “Group” are sometimes used for convenience where references are made to Shell plc and its subsidiaries in general. 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. These terms are also used where no useful purpose is served by identifying the particular entity or entities. ‘‘Subsidiaries’’, “Shell subsidiaries” and “Shell companies” as used in this announcement refer to entities over which Shell plc either directly or indirectly has control. Entities and unincorporated arrangements over which Shell has joint control are generally referred to as “joint ventures” and “joint operations”, respectively. “Joint ventures” and “joint operations” are collectively referred to as “joint arrangements”. Entities over which Shell has significant influence but neither control nor joint control are referred to as “associates”. 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. read more

Reuters

Exclusive-Shell in talks with Indian consortium to sell Russian LNG plant stake -sources

By Ron Bousso and Nidhi Verma: Thu, 26 May 2022, 11:09 am

LONDON (Reuters) -Shell is in talks with a consortium of Indian energy companies to sell its stake in a major liquefied natural gas plant in Russia, three sources told Reuters, highlighting India’s willingness to step into the space left by Western companies following Moscow’s invasion of Ukraine.

The world’s third-largest oil importer and consumer has already stepped up purchases of Russian supplies since the conflict began in February, taking advantage of big discounts at a time when global oil prices have surged.

The sources said Shell has recently entered into talks with a group of Indian companies, including ONGC Videsh and Gail, over its 27.5% stake in the Sakhalin-2 LNG plant on Russia’s eastern flank.

Shell declined to comment. ONGC, Gail and other state-run Indian companies did not respond to Reuters’ request for comment.

The talks follow the British company’s plans to exit all its Russian operations, amid an exodus of Western companies from the country in response to sanctions over the Ukraine conflict. India has not explicitly condemned Moscow’s actions there.

India has snapped up cheap Russian oil, taking its share of Russian oil exports to around 10% from zero since the start of this year, according to the International Energy Agency. read more

Shell to acquire Sprng Energy group, one of India’s leading renewable power platforms

Apr 29, 2022

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.

Sprng Energy supplies solar and wind power to electricity distribution companies in India. Its portfolio consists of 2.9 gigawatts-peak¹ (GWp) of assets (2.1 GWp operating and 0.8 GWp contracted) with a further 7.5 GWp of renewable energy projects in the pipeline. read more

Shell Looks To Snap Up $9 Billion India Petchem Stake

By Julianne Geiger – Aug 13, 2020, 10:30 AM CDT

Dutch oil major Royal Dutch Shell is planning to snap up a major stake in a petrochemical businesses, according to anonymous sources cited by Reuters.

According to the source, Shell signed a memorandum of understanding to pick up a 50% stake in India-based Nayara Energy’s petrochem project.

Nayara Energy Limited (formerly Essar Oil Limited), which also runs India’s second-largest single-site refinery that makes up 8% of India’s total refinery capacity, is 49.13% owned by PJSC NK Rosneft, which it picked up in August of 2017. read more

Exclusive: Shell eyes stake in Nayara’s $9 billion Indian petchem project – source

NEW DELHI/MOSCOW (Reuters) – Oil major Royal Dutch Shell <RDSa.L> plans to buy a 50% stake in Indian-based Nayara Energy’s up to $9 billion planned petrochemical project, a source familiar with the matter said.

Global oil majors are looking at expanding foothold in the vast Indian market, where local refiners are investing billions of dollars to boost their petrochemical capacities. read more

Jessica Jaganathan: APRIL 7, 2020

SINGAPORE, April 7 (Reuters) – Royal Dutch Shell said on Tuesday its Australian unit and joint venture partners had decided to delay a final investment decision (FID) on the Crux gas project in offshore Australia that was initially planned for 2020.

The Crux project is one of several globally that have been delayed in recent months following the collapse in energy prices.

LNG demand had been hitting record highs until recently thanks to appetite from China and India as they diversify away from dirtier coal power generation, but the crash in oil and gas prices has caused major LNG exporters to put off gigantic new facilities or expansions of existing projects. read more

Posted by SDD Contributor on December 17, 2019 at 12:00 am

Could farm and city waste could be transformed into clean fuel? Shell unveils giant new high-tech green energy research lab in India

Oil giant Shell opened Friday a high-tech research hub in southern India that is hoping to pioneer the green energy of the future, including ways to transform farm and city waste into clean fuel.

The sprawling facility in the Indian tech capital Bangalore will house 1,500 experts under one roof as Shell expands its research and development operations in Asia.

The 21-hectare hub will host labs and demonstration centres where new ideas can be pursued and tested, and push efforts to transform waste products into low-carbon fuels for transport. read more

Workers concerned Prelude jobs going overseas

A COALITION of two heavyweight unions, the Offshore Alliance, has condemned Shell Australia’s alleged decision to outsource work from Australia to India.

The Offshore Alliance yesterday accused Shell of “training up Indian workers” instead of investing in the local workforce.

“Shell are (sic) on our coast and taking our gas resources – the least they can commit to is using Australian workers for all Prelude related tasks,” Offshore Alliance said.

Permit writing work is generally undertaken by employees familiar with the facility and who have ongoing interaction with project-based personnel.

The Offshore Alliance told Energy News permit writing requires detailed knowledge of work scope, hazards and controls, the isolations and temporary defeats, and that the work was most suitable to Australian workers aboard the Prelude or at the very least based in Australia. read more

Shell India’s inclusive culture sustains a diverse and engaged workforce

BY RAJIV SINGH: PUBLISHED: Aug 13, 2019 

In managing human resources, what may sometimes get overlooked is the human element. But Nitin Prasad, chairman of Shell in India, is not one to miss the larger picture.

Sample this. When asked what makes Shell one of the best employers in India, he says it’s the company’s 8,700 employees. Shell believes in collectively shaping a work environment that prioritises diversity and inclusion; promotes a culture of open innovation; observes equality for all genders and prioritises focus on ethical behaviour. read more

Rooftop solar at Shell units in Europe, Asia to generate 7,500 MWh a year

The panels can result in the avoidance of greenhouse gas emissions of about 4,500 tonne on a CO2-equivalent basis per year, equivalent to taking about 2,600 cars off the road for one year, a statement by the company said.

August 06, 2019, 07:42 IST

New Delhi: Lubricants major Shell on Monday said it is installing solar photovoltaic panels on the roofs of seven of its plants in India, China, Italy, Singapore and Switzerland, which would generate 7,500 MWh of power annually.

The panels can result in the avoidance of greenhouse gas emissions of about 4,500 tonne on a CO2-equivalent basis per year, equivalent to taking about 2,600 cars off the road for one year, a statement by the company said.

Combined, they are expected to generate over 7,500 megawatt hours (MWh) of electricity a year, it added. read more

India-West Staff Reporter:20 March 2019

A former employee of Royal Dutch Shell Oil, who had worked with the company for more than 20 years, filed a lawsuit Dec. 10, 2018 in Harris County, Texas District Court, alleging he was discriminated against because of his national origin, which the multinational corporation wrongly perceived as Indian.

Sri Raghunatha Venkatesawra Babu Bangauru, a resident of Houston, Texas, who had renounced his Indian citizenship and holds a U.K. passport, alleged in his lawsuit that the company has an “ugly trend, growing more apparent during the tightening at Shell, in which white or non-Indian workers are favored by the company.” read more

‘A museum dedicated to science education should not be helping promote any company that is actively exacerbating this planetary emergency until they show a serious proactive drive to switch to renewables’

• Josh Gabbatiss Science Correspondent
• @josh_gabbatiss

Tens of thousands of people have urged the Manchester Museum of Science and Industry to drop Shell as a sponsor from an upcoming event. The announcement that the museum’s new exhibition, “Electricity: the spark of life”, would be supported by the oil giant sparked controversy among local groups. FULL ARTICLE

Shell plans opening 1,200 retail stations in India in 10 years

BENGALURU: Shell Companies in India Chairman Nitin Prasad said Monday the company plans to open 1,200 retail stations across India in the next ten years. Terming it as one of the “most largest expansions” ever planned by Shell, he said “each one of those stations can easily accommodate about 100 workers. Simply put, one lakh jobs will get created…” These retail stations, in turn, will trigger several other jobs in terms of infrastructureNSE -2.22 % building to supply those stations with fuel and retail products, he said. FULL ARTICLE read more

Ron Bousso: MARCH 21, 2018

LONDON (Reuters) – Royal Dutch Shell is placing a big bet on petrol stations and convenience stores in China, India and Mexico as it looks to shore up profits during the electric car revolution. By 2025, the oil and gas giant plans to grow its global network of roadside stations by nearly a quarter to 55,000, targeting 40 million daily customers, Shell said in a statement on Wednesday. It will add another 5,000 convenience stores selling coffee and snacks, with growth focused on rapidly growing economies in emerging markets. FULL ARTICLE read more

Summary

Royal Dutch Shell CEO Ben van Beurden speaks at the CERAWeek conference at the Hilton Americas, Wednesday, March 7, 2018, in Houston. (Photo: Karen Warren / Houston Chronicle)

By Chris Tomlinson March 9, 2018

Coal is too dirty. Oil is too messy. And renewables are too intermittent. But natural gas is just right. Energy companies of every stripe have fallen in love with the stepchild of fossil fuels. No longer considered an annoying byproduct of oil drilling, natural gas’ multiple applications and relative cleanliness guarantee it a place in the future energy mix. FULL ARTICLE read more

Jessica Jaganathan: 9 MARCH 2018

SINGAPORE (Reuters) – Royal Dutch Shell is planning to build a truck loading facility at its Hazira liquefied natural gas (LNG) terminal on India’s west coast as it looks to meet demand from industrial users, a top company official said on Friday. The facility, which could be ready by next year, will be used to supply industrial demand through trucking in places that can’t access supply from the grid, said Steve Hill, executive vice president at Shell Energy. FULL ARTICLE read more