Shell Overseas Investment B.V., a wholly owned subsidiary of Shell plc, has signed an agreement to sell 100% of Solenergi Power Private Limited, including the Sprng Energy group of companies, to India’s Aditya Birla Renewables Limited (ABRen). It marks another significant investment in India’s rapidly expanding renewable sector.

The transaction reflects Shell’s strategy to reshape its global power business while strengthening Aditya Birla Group’s position as a leading renewable energy developer in one of the world’s fastest-growing electricity markets.

Machteld de Haan, President, Downstream, Renewables and Energy Solutions at Shell, said:

“This agreement reflects Shell’s continued focus on adjusting the portfolio in our power business. “We are high-grading our power portfolio and recycling capital in service of our asset-backed trading strategy outlined in Capital Markets Day 2025. This is another step in building a more focused, competitive and resilient business while improving returns year on year towards 2030.”

Shell to Sell Entire Sprng Energy Business

As per the press release, the deal, valued at $1.8 billion, is expected to close by the end of 2026, subject to regulatory approvals and customary closing conditions. The final purchase price will be adjusted for factors such as net debt and capital expenditure at closing.

The sale includes all of Sprng Energy’s physical renewable energy assets and its commercial contracts.

Sprng Energy has built one of India’s largest independent renewable power portfolios. The company currently owns 5.0 gigawatts-peak (GWp) of renewable energy projects. It includes 3.3 GWp of operating solar and wind assets and another 1.7 GWp under contract or development. These projects primarily supply clean electricity to state electricity distribution companies across India.

     Sprng Energy Portfolio

Why Shell Is Selling

The sale is part of Shell’s broader strategy to streamline its global power business.

During its Capital Markets Day in 2025, Shell announced that it would focus more on an asset-backed power trading strategy rather than owning large numbers of renewable generation assets. The company said it plans to improve returns by optimizing its portfolio, increasing investment in flexible power generation, and executing projects more selectively across different regions.

Shell aims to achieve approximately 10% return on average capital employed (ROACE) by 2030, making disciplined capital allocation a key priority.

Although it is selling Sprng Energy, Shell emphasized that India remains an important market. The company will continue operating its integrated liquefied natural gas (LNG) business, mobility network, and lubricants business in the country. Shell recently strengthened its Indian lubricants business through the acquisition of Raj Petro Specialities.

• READ MORE: India Achieves 50% Non-Fossil Fuel Power Milestone: Solar Shines Bright • Carbon Credits

Aditya Birla Expands Renewable Energy Portfolio

For Aditya Birla Renewables, the acquisition significantly expands its clean energy platform.

ABRen serves as the Aditya Birla Group’s dedicated renewable energy business, with Global Infrastructure Partners (GIP), part of BlackRock, as a strategic investor. The company develops a diversified portfolio of renewable projects across India, including solar, wind, hybrid power plants, floating solar facilities, and battery energy storage systems.

The acquisition of Sprng Energy instantly adds a large portfolio of operational assets while increasing ABRen’s presence across multiple Indian states.

The company has been investing heavily in advanced renewable technologies.

• Its solar projects use high-efficiency bifacial solar modules mounted on artificial intelligence-guided tracking systems that follow the sun throughout the day.
• These tracking systems increase electricity generation by maximizing sunlight exposure under changing weather conditions.

Floating Solar Offers New Growth Opportunities

One area where Aditya Birla Renewables sees strong growth is floating solar.

The company has already developed its first floating solar project in Madhya Pradesh. Unlike conventional solar farms, floating solar panels are installed on lakes, reservoirs, and other water bodies.

This approach offers several advantages. First, it reduces the need for large areas of land, which can be difficult and expensive to acquire. Second, the water beneath the panels naturally cools the solar modules, helping improve their efficiency. Finally, floating solar systems reduce water evaporation, making them especially valuable in hot and water-stressed regions.

As India seeks to expand renewable energy while protecting agricultural land and conserving water resources, floating solar is expected to become an increasingly important part of the country’s clean energy mix.

Sustainability Beyond Electricity Generation

Aditya Birla Renewables is also focusing on making its operations more sustainable.

One important initiative involves reducing water consumption at solar plants. Solar panels require regular cleaning to maintain peak performance, but traditional cleaning methods can consume significant amounts of water.

The company says it has steadily reduced per-megawatt water consumption across its projects by adopting more efficient cleaning technologies. It plans to continue lowering its water footprint as more renewable projects come online.

These improvements support India’s broader efforts to make renewable energy development environmentally sustainable while minimizing pressure on natural resources.

India’s Renewable Energy Boom Continues

The acquisition comes as India continues to expand its renewable energy capacity at one of the fastest rates globally.

• According to the Ministry of New and Renewable Energy, India’s installed renewable energy capacity reached 288.59 GW as of June 30, 2026.

Solar power accounted for 162.15 GW, representing more than half of the country’s renewable capacity. Wind energy contributed 57.44 GW, while the remainder came from small hydropower, biomass, and waste-to-energy projects.

This rapid expansion is helping India diversify its electricity supply, reduce dependence on imported fossil fuels, and improve long-term energy security.

At the same time, India remains the world’s third-largest emitter of greenhouse gases due to its large population and growing economy.

Boosting Net-Zero Goals

• According to India’s latest National Inventory Report submitted to the UN Framework Convention on Climate Change (UNFCCC), the country’s total greenhouse gas emissions were approximately 4 billion tonnes of CO₂ equivalent in 2020, excluding emissions and removals from land use, land-use change, and forestry (LULUCF).

However, India’s per capita emissions remain well below the global average, reflecting lower emissions per person than many developed economies.

The country has committed to achieving net-zero emissions by 2070 while sourcing about 50% of its installed electric power capacity from non-fossil fuel sources by 2030. Continued investment in solar, wind, battery storage, and emerging technologies such as floating solar will be essential to meeting those goals.

Shell’s sale of Sprng Energy therefore represents more than a corporate portfolio adjustment. It also demonstrates continued investor confidence in India’s renewable energy sector.

As domestic companies like Aditya Birla Renewables expand their clean energy portfolios, India is likely to remain one of the world’s most important renewable energy investment destinations over the coming decade.

• MUST READ: Adani’s $100 Billion Renewable AI Power Play: Can India Lead the Data Center Revolution?

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The race for uranium supplies is changing. The U.S. is expanding nuclear power to meet rising electricity demand. Companies are now exploring new fuel sources beyond traditional mining.

Austin-based SuperCritical Materials has secured an exclusive license from the U.S. Department of Energy (DOE). Their goal is to commercialize a patented technology that extracts uranium from seawater. The company believes this breakthrough will enhance domestic nuclear fuel security and lessen reliance on foreign uranium, especially as advanced reactors near large-scale deployment.

This technology was developed by the DOE’s Office of Nuclear Energy, with research led by Pacific Northwest National Laboratory (PNNL). After years of lab work, SuperCritical now has exclusive rights to manufacture and use this process in the U.S. before expanding to allied nations.

A Growing Need for Domestic Uranium

The DOE license comes as the U.S. works to rebuild its uranium industry after years of relying on imports.

• The EIA reports that U.S. uranium concentrate (U₃O₈) production reached 1.04 million pounds in the first quarter of 2026.
• It’s a slight 0.4% decline from 1.04 million pounds produced in the fourth quarter of 2025.

But, despite the small quarterly dip, domestic uranium production remains significantly higher than it was just a few years ago. Thus, while U.S. output remains below reactor demand, production is rising from historic lows, reflecting new investments in the nuclear fuel supply chain.

Despite this recovery, the U.S. still imports much of the uranium for its reactors. As nuclear generation grows and advanced reactors need new fuel types like HALEU, experts expect more domestic production capacity will be necessary. Technologies like seawater extraction could eventually complement traditional sources if they become commercially viable.

What Is Seawater Uranium Mining

Uranium fuels nuclear reactors, but mining alone may not meet future needs.

• The company revealed that the world’s oceans hold about 4.5 billion metric tons of dissolved uranium, over 1,000 times more than known land reserves. While the concentration is low, the ocean’s vastness makes seawater a significant untapped resource.

SuperCritical believes advances in chemistry and materials science could enable the economic recovery of some of this uranium. They also aim to extract other important minerals.

The company states its technology could be vital in the nuclear fuel supply chain. This would support utilities, reactor developers, and governments seeking long-term fuel security.

How the Technology Works

Instead of mining, the patented process captures dissolved uranium from seawater using specially treated acrylic fibers.

Here’s how it works:

• Acrylic fibers with proprietary materials are immersed in seawater.
• The fibers attract uranium and other dissolved metals through chemical reactions.
• Once saturated, the fibers are removed and placed in a solution that separates the metals.
• The fibers are treated and reused.

SuperCritical notes the system can run continuously due to the reusable fibers. The process is also environmentally friendly and requires less complex permitting than offshore oil and gas projects.

For early commercial operations, the recovered uranium concentrate, or yellowcake, could be processed at existing facilities in Texas. This avoids the need for new plants.

Here’s a picture of the setup

• READ MORE: Top 3 Uranium Stocks in 2026 Riding the Nuclear Energy Boom

The technology may also increase supplies of other strategic minerals.

The U.S. government lists about 50 minerals and elements as critical to national security and economic competitiveness. The U.S. relies heavily on imports for many of these materials, while China dominates global production of rare earth elements.

The company claims its process could recover 23 important metals dissolved in seawater along with uranium. While commercial recovery rates need testing on an industrial scale, the company believes the technology could help diversify mineral supply chains.

This effort aligns with recent federal initiatives to boost domestic mineral production, strengthen the nuclear industry, and expand access to offshore resources.

Supporting America’s Growing Nuclear Ambitions

The DOE license arrives as the U.S. aims to grow nuclear power to meet rising electricity demand from AI, advanced manufacturing, data centers, and electrification.

SuperCritical reports that policymakers are shifting from building reactors to securing the fuel they need.

As advanced reactor deployment speeds up, pressure rises across all stages of the nuclear fuel cycle, including:

• Uranium production
• Conversion
• Enrichment
• High-Assay Low-Enriched Uranium (HALEU) production
• Fuel fabrication

The company warns these upstream challenges could pose major issues for the nuclear industry’s future.

Building the “Fuel Layer” of the Intelligence Economy

SuperCritical sees itself as building the “fuel layer” of the emerging Intelligence Economy—an economy driven by AI, robotics, and advanced computing. Just as coal fueled the Industrial Revolution, abundant nuclear energy could power the next economic wave.

Alexander Canon Bryan, Founder and Chief Executive Officer of SuperCritical Materials, noted:

“Our objective is straightforward. If the Intelligence Economy requires abundant, reliable nuclear energy, then it will also require abundant, reliable nuclear fuel. SuperCritical is building the infrastructure needed to help supply that fuel. We are proud to advance technology developed by the U.S. Department of Energy and contribute to strengthening America’s energy security, industrial competitiveness, and technological leadership.”

Looking Ahead

SuperCritical believes unconventional fuel sources are vital for meeting this demand. The company plans to commercialize DOE-developed technology. This will allow them to convert seawater into a sustainable uranium source and strengthen the U.S. nuclear fuel supply chain.

Though challenges remain, the DOE license marks an important milestone. If the technology succeeds in industrial use, it could provide the U.S. and its allies with a secure source of uranium and critical minerals for decades.

• ALSO READ: US Uranium Production Triples as Nuclear Energy Revival Fuels Mining Boom

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The U.S. biochar industry is growing fast. A new report from the U.S. Biochar Initiative (USBI) estimates the industry was worth about $157 million in 2025. That is nearly three times higher than in 2023.

The growth comes as more companies buy durable carbon removal credits to meet their climate goals. It also shows rising interest in biochar as both a carbon removal tool and a way to improve soil health.

Biochar Industry Enters a New Growth Phase

The latest State of the U.S. Biochar Industry Report shows strong growth across the sector.

The report says the industry’s value reached $157 million in 2025, up from about $52 million in 2023. Annual biochar production also increased to more than 97,000 metric tonnes. At the same time, installed production capacity rose to more than 400,000 metric tonnes per year.

Today, the United States has more than 130 biochar production facilities. These plants support jobs in farming, forestry, manufacturing, engineering, and project development. Even with this growth, the report says the industry has only begun to tap its full potential.

Commercial biochar producers are also expanding quickly. The report estimates that producer revenue rose from $18.2 million in 2023 to $58.8 million in 2025. Producers expect that figure to reach about $159 million by 2027, showing confidence that demand will continue to grow.

Much of the recent increase came from companies earning $10 million to $50 million a year, suggesting the industry is moving beyond small pilot projects toward larger commercial operations.

The report also shows that production could grow much faster over the next two years. U.S. biochar output is projected to increase from about 151,000 metric tonnes in 2025 to more than 819,000 metric tonnes by 2027 if announced projects move forward.

While the report notes these forecasts are ambitious, they show how quickly companies expect demand for biochar and carbon credits to grow.

Carbon Credit Demand Is Fueling the Market

Carbon markets are becoming a major source of income for biochar producers. The report found that only 6% of U.S. biochar production came from companies that earned no revenue from biochar carbon removal credits.

The largest share of production (42%) came from producers earning 11% to 20% of their revenue from carbon credits. Another 25% came from producers earning 71% to 80%, while 12% came from companies generating 31% to 40% of revenue from carbon credits.

A further 6% came from producers earning more than 90% of their revenue from carbon credits. The findings show that carbon finance is becoming a key part of many producers’ business models, although most still rely on biochar sales and other income sources.

Demand continues to rise.

According to CDR.fyi, biochar supplied more than 90% of all durable carbon removal credits delivered worldwide in 2025. It also remained the largest source of delivered durable carbon removal by volume.

Large companies are helping drive this market. Microsoft, Google, Stripe, Shopify, JPMorgan Chase, and the Frontier buyers coalition have all signed major biochar carbon removal agreements. These long-term contracts help developers build larger facilities and increase production.

A Small Industry With Big Potential

Biochar is also one of the most mature carbon removal technologies on the market. Unlike newer methods such as direct air capture, commercial biochar plants are already operating at scale.

The technology is modular, uses widely available biomass waste, and generally costs less to deploy. These advantages have helped biochar become the leading source of delivered durable carbon removal credits.

The report identifies four main drivers behind the industry’s growth:

• rising demand for carbon credits,
• better use of agricultural and forestry waste,
• growing awareness of biochar’s soil benefits, and
• stronger interest in climate solutions that deliver both environmental and economic value.

Although the industry has grown quickly, it remains small relative to its long-term opportunity.

The USBI report says the United States produces hundreds of millions of tonnes of agricultural and forestry waste each year. Much of this material could be used to produce biochar instead of being burned or left to decay.

As demand for durable carbon removal grows, biochar is becoming an important part of the climate economy. The next step is to expand production while keeping high standards for carbon accounting, sustainable feedstocks, and environmental performance.

The market is expected to keep growing. Boston Consulting Group (BCG) estimates the global carbon removal market could reach $100 billion to $135 billion a year by 2050 if countries stay on track for net-zero emissions.

Biochar Offers More Than Carbon Removal: Helping Agriculture and Climate

Biochar creates value beyond carbon credits.

It helps store carbon for long periods while improving soil quality. Studies by the U.S. Department of Agriculture (USDA) show biochar can improve soil structure, increase water retention, and reduce nutrient losses. These benefits can help farmers improve crop yields while using resources more efficiently.

Biochar production can also reduce waste. Crop residues, forestry waste, and other biomass that might otherwise decompose or be burned can instead be turned into a useful product. This creates new income opportunities for farmers, forest owners, and rural businesses.

Because of these benefits, many experts see biochar as one of the few climate solutions that supports both emissions reductions and agricultural productivity. The global industry has seen tremendous growth in 2025, as shown below.

Scaling Up Remains the Biggest Challenge

Despite its huge potential, the industry still faces several hurdles.

Production capacity remains much smaller than future demand. Many projects also need more financing to build commercial-scale facilities.

Moreover, the industry must maintain high standards. Buyers want carbon credits backed by strong measurement, reporting, and verification. They also expect producers to use sustainable feedstocks and protect forests and biodiversity.

Meeting these standards will help build confidence as the market expands, and when quality will become even more important. Strong standards such as Verra’s VM0044 methodology help ensure biochar credits represent real and durable carbon removal.

A Strong Outlook for the Industry

The new USBI report shows that biochar is moving into the mainstream.

Industry value has nearly tripled in just two years. Production capacity continues to grow, and more companies are investing in new facilities. At the same time, demand for high-quality carbon credits remains strong as businesses work toward net-zero targets.

The International Energy Agency (IEA) says carbon removal will be needed alongside deep emissions cuts to reach global climate goals. Biochar is well placed to help meet that need because it delivers durable carbon storage while improving soil health and making use of waste biomass.

As investment grows and production expands, biochar is likely to play a much larger role in both the U.S. carbon market and the global carbon removal industry over the next decade.

• READ MORE: The Ultimate Guide to Biochar: The “Black Gold” Fueling Durable Carbon Removal Market

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Canada is launching one of the world’s largest carbon capture and storage (CCS) projects. The federal government, Alberta’s government, and five oil producers, aka The Oil Sands Alliance, signed an agreement to cut oil sands emissions while supporting production and exports.

Announced on July 2, 2026, this agreement moves the Pathways Project closer to reality. It will capture carbon dioxide (CO₂) from oil sands facilities in northern Alberta, transporting it through a shared pipeline to a storage site near Cold Lake.

This deal links emissions cuts with plans for a new West Coast oil pipeline. Supporters view it as a chance for economic growth alongside climate action. However, environmental groups worry it might lead to increased fossil fuel production and emissions.

Unlock OSA’s Pathways Project

The Oil Sands Alliance—which includes Canadian Natural Resources, Cenovus Energy, ConocoPhillips Canada, Imperial Oil, and Suncor Energy—is developing the Pathways Project.

The plan involves building a network to transport and store carbon from several oil sands operations. Instead of letting CO₂ escape, it will flow through a pipeline to a geological storage site near Cold Lake.

Oil Sands Alliance Location

Originally, the project was expected to cost around C$16.5 billion. However, costs are now estimated between C$20 billion and C$30 billion due to rising construction expenses and an expanded project scope.

If all goes well, the carbon pipeline and storage system should start by January 1, 2032. The first phase aims for completion by January 1, 2035.

A New Target: Cutting 16 Million Tonnes of Emissions

The recent agreement sets a phased approach for greenhouse gas reductions. The first phase aims to capture and store 6 million tonnes of CO₂ per year through the Pathways CCS project by 2035.

Partners target an extra 5 million tonnes of reductions by 2040 and another 5 million tonnes by 2045. Future reductions may come from expanding the CCS network or adopting new technologies.

• Overall, the plan aims for 16 million tonnes of net annual emissions cuts in Canada’s oil sands sector.

This replaces earlier proposals for larger cuts and aligns with the new Memorandum of Understanding (MOU).

• According to Canada’s latest National Inventory Report, oil sands and thermal heavy oil operations emitted about 92 million tonnes of CO₂ equivalent (MtCO₂e) in 2024.
• The initial capture phase would reduce emissions by roughly 6–7% of the sector’s total, while the full target represents about 17% of today’s emissions.

Government Support Extends Beyond Tax Credits

The agreement includes significant financial support from the federal and Alberta governments to make the project feasible.

Ottawa will extend its 50% investment tax credit for eligible carbon capture equipment and a 37.5% tax credit for transportation, storage, and utilization equipment until 2035, five years longer than planned.

The federal government also plans new tax incentives for enhanced oil recovery projects, offering a 25% credit for carbon capture equipment and 18.75% for transportation and storage used in those operations.

Alberta will extend its Carbon Capture Incentive Program through 2035 and provide additional financial support to increase oil production for future exports.

The province aims to speed up approvals with a 120-day regulatory timeline for qualifying projects and will form a working group to address regulatory barriers in oil sands investments.

Alberta Premier Danielle Smith said,

“The biggest nation-building projects in Canada’s history have succeeded through partnership. This agreement shows what can be achieved when governments and industry work together to grow our economy, strengthen our energy security and unlock new opportunities for people across Canada.”

• ALSO READ: Microsoft and RBC Buy North America’s First Verified Direct Air Capture (DAC) Carbon Credits From Canada’s Deep Sky

Carbon Pricing Will Reward Progress

Oil and gas production accounts for roughly a quarter of Canada’s total greenhouse gas emissions, according to federal climate data. This makes Alberta central to national climate policy.

Additionally, a key part of the agreement is Alberta’s carbon pricing system, which encourages emissions reductions.

Under Alberta’s Technology Innovation and Emissions Reduction (TIER) program, industrial facilities face stricter emissions benchmarks each year. Companies that do not improve must buy emissions credits or pay into the provincial TIER Fund.

• The new agreement notably offers incentives for companies meeting emissions reduction goals.
• Members of the Oil Sands Alliance that reach their initial target of 6 million tonnes will see their TIER benchmark tightening rate drop from 2% to 1%.

Companies making progress toward future targets can keep this lower rate until 2045. However, those that fall short will face tougher benchmarks and higher compliance costs.

This structure rewards companies investing in emissions reduction technologies while pressuring those lagging.

Linking Carbon Capture With Oil Production Growth

The Pathways agreement also aims to boost Canada’s oil production and export capacity via a proposed West Coast Oil Pipeline (WCOP).

The federal government, Alberta, and the Oil Sands Alliance see a link between the new pipeline and the Pathways Project. Increased oil production will supply the pipeline, while carbon capture aims to reduce emissions from expanded operations.

The agreement also seeks to diversify Canada’s export markets, improving access to customers beyond North America. In addition to production growth, governments commit to engaging with Indigenous communities to create economic opportunities in pipeline and emissions-reduction projects.

More significantly, it also encourages companies to prioritize Canadian suppliers, technologies, steel, aluminum, and construction materials when possible.

What Comes Next?

The July 2 Memorandum of Understanding is not the final legal agreement. It sets the stage for future binding agreements between the federal government, Alberta, and each member of the Oil Sands Alliance.

These agreements are expected to be signed by November 15, 2026.

A trilateral working group will oversee implementation, coordinate regulatory approvals, and advance the carbon capture project and related infrastructure.

If construction goes as planned, the Pathways Project could become one of the largest CCS networks globally, storing millions of tonnes of carbon each year while helping Canada boost its oil exports. Balancing climate goals with more fossil fuel production will be a key topic in Canada’s energy debate in the years ahead.

• RECENT: Canada and Saudi Arabia Sign $1 Billion in Deals to Boost Clean Energy, Mining, and AI Partnership

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