Aditya Birla Group Nears $1.8 Billion Acquisition Of Shell-Owned Sprng Energy

The Aditya Birla Group is reportedly close to acquiring Sprng Energy, the renewable energy platform owned by global energy major Shell Plc, in a deal valued between $1.7 billion and $1.8 billion. According to sources familiar with the matter, discussions between the two companies are at an advanced stage, and a formal agreement could be signed within the coming weeks.

The proposed acquisition attracted significant interest from several leading global investors and infrastructure funds. Major bidders reportedly included private equity firms KKR and Actis, along with a consortium comprising Temasek and the National Investment and Infrastructure Fund (NIIF). Despite strong competition, the Aditya Birla Group emerged as the preferred bidder after the submission of binding financial offers.

The acquisition is expected to be carried out through Aditya Birla Renewables, the clean energy arm operating under Grasim Industries, the group’s flagship company. If finalized, the transaction would mark one of the largest renewable energy deals in India in recent years and significantly strengthen the conglomerate’s position in the country’s rapidly growing clean energy sector.

For Shell, the sale is part of a broader strategy to optimize its global portfolio and focus on businesses that generate higher returns. The company has been reviewing several renewable energy assets as it adjusts its investment priorities. Shell acquired Sprng Energy from Actis in 2022 for approximately $1.55 billion and began exploring strategic options for the platform last year with the support of financial advisors.

Sprng Energy has established a strong presence in India’s renewable energy market. The company operates a diversified portfolio of solar, wind, and hybrid power projects across multiple states, including Gujarat, Rajasthan, Madhya Pradesh, Karnataka, and Tamil Nadu. It currently has around 2.3 GW of operational renewable energy capacity and a total contracted portfolio exceeding 5 GW.

For the Aditya Birla Group, the acquisition offers an opportunity to rapidly expand its renewable energy footprint through an established platform rather than developing projects from the ground up. The deal aligns with the group’s long-term sustainability and energy transition goals. The conglomerate is targeting more than 10 GW of clean energy capacity by 2030 and aims to use renewable power to support the energy requirements of its major businesses, including metals, cement, and chemicals.

While negotiations are reportedly progressing toward completion, sources indicated that discussions are still ongoing and the final terms of the transaction may be subject to change before a definitive agreement is signed.