Aditya Birla Group To Acquire Sprng Energy From Shell In INR17200 Crore Renewable Energy Deal

Aditya Birla Renewables Limited (ABRen), a subsidiary of Grasim Industries Ltd., has signed 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., a wholly owned subsidiary of Shell PLC. The deal marks one of the largest acquisitions in India’s renewable energy sector in terms of both value and scale.

The transaction values Sprng Energy at an enterprise value of approximately ₹17,200 crore (around US$1.8 billion). The final equity consideration payable to the seller will be determined after adjustments for debt, cash, and other items outlined in the transaction documents. The acquisition will be financed through a combination of debt, equity infusion from Grasim Industries, and investments from funds managed by Global Infrastructure Partners, a part of BlackRock.

With this acquisition, ABRen will add nearly 5 GWp of contracted renewable energy capacity to its portfolio. This includes around 3.3 GWp of operational projects and about 1.7 GWp of projects currently under construction. Sprng Energy also brings a strong development pipeline and valuable grid connectivity, strengthening ABRen’s ability to expand its renewable energy business.

Following the acquisition, the combined renewable energy portfolio of ABRen and Sprng Energy will reach approximately 9.3 GWp, making the company one of India’s largest integrated renewable energy platforms. The acquisition also supports ABRen’s strategy of combining its strong commercial and industrial (C&I) renewable business with Sprng Energy’s utility-scale renewable energy portfolio, creating a more diversified and balanced platform.

Aditya Birla Group Chairman Kumar Mangalam Birla said the Group views India’s energy transition as a long-term growth opportunity similar to its investments in other core sectors. He stated that the acquisition strengthens India’s clean energy future while enhancing industrial competitiveness and supporting economic growth. He added that the combined platform is expected to scale beyond 20 GWp in the coming years, positioning the Group to play a significant role in India’s energy transition.

Aryaman Vikram Birla, Director at Aditya Birla Group and Aditya Birla Renewables, said the acquisition represents a major milestone in ABRen’s growth journey. He noted that integrating Sprng Energy’s utility-scale assets with ABRen’s C&I expertise will strengthen the overall business, while the acquired company also brings high-quality renewable assets, reliable power offtakers, and stable contracted cash flows. He added that the company has almost achieved its earlier target of nearly 10 GWp and now aims to double its renewable energy capacity over the next few years.

Jayant Dua, Business Head of Aditya Birla Renewables Limited, said the merger combines two complementary renewable energy businesses with strong capabilities in project development, engineering, procurement, construction, and asset management. He said the combined expertise is expected to improve operational efficiency, accelerate project execution, and ensure uninterrupted delivery of clean power to customers. The transaction is expected to be completed before the end of calendar year 2026, subject to regulatory approvals and the fulfilment of customary closing conditions.