Aditya Birla Group Buys Shell's Sprng Energy in Rs 17,200 Crore Renewable Energy Deal

Aditya Birla Group has announced the acquisition of Shell's India-focused renewable energy platform, Sprng Energy, in a transaction valued at an enterprise value of Rs 17,200 crore (around USD 1.8 billion). The deal significantly strengthens the conglomerate's renewable energy business, taking its combined clean energy portfolio to about 9.3 GWp and reinforcing its long-term expansion plans in India's rapidly growing green energy sector.

Deal To Add Nearly 5 GW Renewable Capacity

The acquisition will be executed through Aditya Birla Renewables Limited (ABReN), a subsidiary of Grasim Industries, which has signed a Share Purchase Agreement to acquire 100 per cent equity shares and securities of Solenergi Power Private Limited (SPPL), the Mauritius-based holding company of Sprng Energy.

The stake is being acquired from Shell Overseas Investment B.V., a wholly owned subsidiary of Shell Plc. The transaction is subject to regulatory approvals and customary closing conditions.

Valued at an enterprise value of Rs 17,200 crore (approximately USD 1.8 billion), the acquisition will add a contracted renewable energy portfolio of around 5 GWp to ABReN. This includes nearly 3.3 GWp of operational assets and another 1.7 GWp currently under construction. The transaction will be financed through a combination of debt and equity.

Following the acquisition, Aditya Birla Renewables' existing portfolio of around 4.4 GWp will combine with Sprng Energy's assets, creating a renewable energy platform with an overall capacity of about 9.3 GWp.

Aditya Birla Group Eyes 20 GW Capacity

Describing the acquisition as one of the largest deals in India's renewable energy sector, Aditya Birla Group Chairman Kumar Mangalam Birla said the transaction marks a major milestone for the company's clean energy ambitions.

"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."

The company said acquiring an established renewable energy platform provides a faster route to expansion compared to developing projects from scratch and aligns with the group's long-term sustainability and energy transition strategy.

Transaction Expected To Close By December

Aditya Birla Group Director Aryaman Vikram Birla said the acquisition significantly accelerates the company's renewable energy growth plans.

"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.""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."

Sprng Energy develops and operates utility-scale solar and wind power projects across India. The company reported a consolidated turnover of Rs 1,253.4 crore in FY25, compared with Rs 1,158.1 crore in FY24.

The acquisition is expected to be completed on or before December 31, 2026, subject to approvals from the Competition Commission of India, the Central Transmission Utility of India Limited and other customary regulatory clearances.

(With inputs from ANI)