Oil & gas supermajor Shell has completed its $1.55bn acquisition of Indian renewables developer and operator Sprng Energy from Actis Solenergi Ltd.

The purchase via unit Shell Overseas Investment triples the company’s renewable capacity in operation, and will help Shell to reach its target of becoming a net-zero emissions energy business by 2050, the company said.

Pune-based Sprng is one of India’s fastest-growing wind and solar companies, with 2.9GW