Mumbai, India – The Aditya Birla Group has announced a major acquisition in India's renewable energy sector, with its subsidiary Aditya Birla Renewables Ltd. (ABRen) securing Shell's Sprng Energy for an enterprise value of ₹17,200 crore (approximately $1.8 billion). This deal, one of the largest by value and scale in the country's green energy landscape, will see ABRen acquire 100% equity shares and securities of Solenergi Power, which controls the Sprng Energy group of companies.
Boosting Renewable Capacity for India's Energy Future
The acquisition substantially enhances Aditya Birla Group's renewable energy footprint, adding a contracted portfolio of approximately 5 GWp. This includes 3.3 GWp of operational capacity and 1.7 GWp currently under construction, alongside a robust development pipeline and grid connectivity assets. ABRen, the renewable energy arm of Grasim Industries, will combine its existing strengths in the commercial and industrial (C&I) segment with Sprng Energy’s utility-scale platform.
Aditya Birla Group Chairman Kumar Mangalam Birla emphasized the strategic importance of the deal: "This acquisition brings together two highly complementary platforms and marks an important milestone in ABRen's evolution. Together, we will have a diversified portfolio and a deep development pipeline that puts us on course to scale to 20 GWp+ in the coming years."
The transaction aligns with the group's long-term commitment to India's energy transition, aiming to strengthen the nation's energy future and foster sustained economic growth. ABRen currently manages a renewable energy portfolio of around 4.4 GWp, making it a significant player in the Indian market.
Funding and Future Outlook
Funding for the acquisition will be sourced through a combination of debt, equity infusion from Grasim Industries, and capital managed by Global Infrastructure Partners, part of BlackRock. This financial structure underscores the confidence in the long-term growth potential of the combined entity.
Aryaman Vikram Birla, Director at Aditya Birla Group, described the acquisition as a "pivotal moment" for the company's renewable energy business. He noted that the addition of Sprng Energy's high-quality assets, creditworthy off-takers, and contracted cash flows would rapidly accelerate ABRen's ambition to build a top-tier national renewable energy platform. "Having almost achieved our ~10 GWp target ahead of time, we are now on track to double capacity in the next few years," he stated.
Integration and Operational Synergies
Jayant Dua, ABRen Business Head, highlighted the complementary strengths across project development, engineering, procurement, construction, and asset management that the merger will bring. "Our priority will be to ensure business continuity, deliver reliable clean power to customers, and continue building a best-in-class renewable energy platform," Dua affirmed.
The acquisition is expected to be finalized before the end of calendar year 2026, subject to customary regulatory approvals and closing conditions.