Shell, a British publicly traded multinational oil and gas company, completed the acquisition of Sprng Energy, a renewable energy platform, from Actis, a global investment firm, for $1.55bn. "This deal positions Shell as one of the first movers in building a truly integrated energy transition business in India. I believe it will enable Shell to become a leader across the power value chain in a rapidly growing market where electrification on a massive scale and strong demand for renewables are driving the energy transition. Sprng Energy generates cash, has an excellent team, strong and proven development track record and a healthy growth pipeline. Sprng Energy’s strengths can combine with Shell India’s thriving customer-facing gas and downstream businesses to create even more opportunities for growth," Wael Sawan, Shell Director of Integrated Gas, Renewables and Energy Solutions.