Business EconomyPosted at: Jul 14 2026 6:02PM


Aditya Birla Group to buy Shell's Sprng Energy for Rs 17,200 Crore

Mumbai, Jul 14 (UNI) Aditya Birla Renewables Limited (ABRen), a subsidiary of Grasim Industries Ltd, has officially announced the signing of a definitive agreement to acquire 100% equity shares and securities of Solenergi Power Private Limited, which owns the Sprng Energy group of companies, from Shell Overseas Investment B.V., which is a wholly-owned subsidiary of Shell PLC.
According to the official statement, this transaction is amongst the largest acquisitions in India’s renewable energy sector both by value and scale.
The transaction values the business at an enterprise value of Rs 17,200 crores (~US$1.8 billion).
The equity consideration payable to the seller will be determined after adjusting for debt, cash, and other items as specified in the transaction documents.
The acquisition is proposed to be funded through a mix of debt and equity infusion from Grasim and funds managed by Global Infrastructure Partners (a part of Blackrock). This transaction adds a contracted portfolio of ~5 GWp capacity (~3.3 GWp of operational capacity and ~1.7 GWp of under construction capacity) along with a strong connectivity and development pipeline.
The acquisition significantly accelerates ABRen’s renewable energy growth ambitions by combining its strong presence in the commercial and Industrial segment with Sprng Energy’s complementary utility-scale platform.
Commenting on the development, Aditya Birla Group Chairman Kumar Mangalam Birla said, “Over a long arc of time, the Aditya Birla Group has built businesses at global scale that have contributed to India's long-term growth, be it in building materials, metals, financial services, or retail. We view India’s energy transition through the same lens. At its core, this is about strengthening our nation’s energy future, enhancing industrial competitiveness, and creating the foundations for sustained economic growth”.
“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. More importantly, it positions us to participate meaningfully in one of the largest energy transformations underway anywhere in the world,” Aditya Birla Group Chairman Kumar Mangalam Birla said.
Aditya Birla Group’s and Aditya Birla Renewables Director Aryaman Vikram Birla said, “This acquisition is a pivotal moment in ABRen’s evolution, rapidly accelerating our ambition to build a top-tier renewable energy platform at national scale. By integrating Sprng Energy’s high-quality utilities portfolio with our C&I capabilities, we are significantly enhancing both the strength and resilience of our combined platform. Additionally, Sprng Energy brings a high-quality asset base, creditworthy off-takers and strong contracted cashflows”.
“Having almost achieved our ~10 GWp target ahead of time, we are now on track to double capacity in the next few years. This step-up reflects not just scale, but a sharper focus on quality, execution, and long-term value creation,” Aditya Birla Renewables Director Aryaman Vikram Birla said.
Aditya Birla Renewables Limited Business HEad Jayant Dua said, “This combination brings together two strong renewable energy platforms with complementary capabilities, geographical presence, customer relationships, and a talented pool of professionals across key functional areas.
"By leveraging our collective expertise across project development, engineering, procurement, construction, and asset management, we believe we can unlock meaningful operational synergies, significantly deepen our organizational capabilities, and accelerate project execution.
"Our priority will be to ensure business continuity, deliver reliable clean power to customers, and continue building a best-in-class renewable energy platform”.
The transaction is expected to be completed before the end of the calendar year 2026, subject to the receipt of necessary regulatory approvals and satisfaction of other customary conditions under the transaction documents, according to the official statement.
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