Aditya Birla Group has struck a deal to acquire Shell's India-focused renewable energy platform, Sprng Energy, for Rs 17,200 crore ($1.8 billion), in one of the biggest clean energy acquisitions in the country's history.
The acquisition will be executed through Aditya Birla Renewables Ltd (ABReL), a subsidiary of Grasim Industries, which will acquire 100% equity in Solenergi Power Pvt. Ltd., the holding company of Sprng Energy, from Shell Overseas Investment B.V.
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The final consideration will be adjusted for debt, cash and other customary closing adjustments.
The transaction will be financed through a combination of debt, equity infusion from Grasim Industries and capital from funds managed by Global Infrastructure Partners, part of BlackRock.
With the acquisition, Aditya Birla Group's renewable energy portfolio will expand to 9.3 GW, strengthening its position among India's largest integrated renewable energy companies.
Sprng Energy brings nearly 5 GW of contracted capacity, including around 3.3 GW of operational assets and about 1.7 GW under construction, along with a significant development pipeline.
The acquisition also broadens ABReL's footprint beyond the commercial and industrial (C&I) segment by adding Sprng Energy's utility-scale renewable platform.
Commenting on the transaction, Aditya Birla Group Chairman Kumar Mangalam Birla said the acquisition reflects the group's long-term commitment to India's energy transition and its strategy of building globally competitive businesses.
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He said expanding the renewable energy platform would support the country's energy security, improve industrial competitiveness and create long-term value.
The deal underscores growing consolidation in India's renewable energy sector as companies scale up to meet rising demand for clean power.
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