Aditya Birla Group and KKR have emerged as the two top contenders to buy Shell’s renewable energy firm Sprng Energy after binding bids were submitted by multiple suitors. Shell will now negotiate exclusively with Aditya Birla and KKR next week, following internal screening at its London headquarters. NIIF and Actis have been eliminated. The transaction is estimated at about $2 billion enterprise value. Sprng Energy runs a 5 GW generation portfolio with long-term contracted offtake.
Shell posted its strongest quarterly profit in nearly two years, beating expectations as refining and energy trading benefited from Iran-related geopolitical tensions. The company also increased shareholder payouts. Still, investors cooled off as concerns grew over declining production and whether the trading gains can be sustained, especially after the results release.
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Shell’s $16.4 billion plan to buy ARC Resources is a major readout of a renewed global push into Canada’s oil and gas. With conflict in the Middle East and disruption fears around the Strait of Hormuz, “safer” production markets are gaining attention, reversing a decade-long trend of foreign divestment.
Shell has agreed to acquire Canada’s ARC Resources in a $16.4 billion deal aimed at boosting production and expanding its footprint in the Canadian energy landscape. The move is seen as especially significant for Shell’s LNG ambitions, potentially strengthening supply and influence in a market where upstream scale and timing matter.
CleanMax plans to supply renewable electricity to Shell’s LNG terminal in Gujarat and technology centre in Karnataka. The Gujarat site will be powered by a 16.83 MW solar and wind hybrid project, while Karnataka’s 13.2 MW hybrid plant will feed Shell’s Bengaluru operations. The move aims to improve reliability and energy stability for Shell’s facilities.
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