Shell PLC (LSE:SHEL, NYSE:SHEL) is reported to one of the final two bidders for an India-based renewable energy company thought to be valued at around US$2bn.
The FTSE 100 oil supermajor submitted a binding offer for Sprng Energy this week, Bloomberg has reported, with private equity owner Actis now evaluating the offers.
READ: Shell board faces legal action over alleged mismanagement of climate risk
Focused on solar and wind energy, Sprgn has total capacity of 2,680 megawatt-peak, of which 2,131 MWp is currently operational.
Actis is headquartered in London, with a portfolio of investments in South Asia, South East Asia, Africa, Latin America and China.