Actis LLP, a major renewable energy investor, has begun due diligence after being shortlisted alongside Aditya Birla Group, KKR, and National Investment and Infrastructure Fund to bid for Shell’s Sprng Energy. The final bids are expected by the end of March, with an estimated company valuation between $1.8 billion and $2 billion, higher than the $1.55 billion Shell originally paid. Sprng Energy is Actis' second greenfield renewable platform in India, housing a combined 5 GW of operational and under-construction projects. Actis had earlier sold its first platform, Ostro Energy, to Renew Power at a $1.5 billion enterprise value. Actis has invested over $800 million into Sprng since 2021 and fully acquired Stride Climate Investments last year. Shell’s decision to sell comes amid a global review of non-core assets as it focuses on reshaping its portfolio under CEO Wael Sawan. The company is reducing investments in renewables, exiting offshore wind projects, and shifting focus toward power trading and oil exploration. Shell said, "We are reviewing strategic options to unlock long-term value for Sprng," but declined to comment on potential deals. Industry experts note that while greenfield power expansion has slowed since Shell’s acquisition, bidding funds see value in buying established assets over building new ones quickly. Shell has also exited other renewable stakes in India, like selling its 49% share in Cleantech Solar for $200 million. The competitive bidding process aims to maximize returns for Shell while boosting India’s growing renewable energy scene.