Aditya Birla Group on Monday announced the acquisition of Shell's India renewable energy platform, Sprng Energy, for an enterprise value of $1.8 billion (around Rs 17,200 crore), in one of the largest acquisitions in India's renewable energy sector by value and scale.
The acquisition, through Aditya Birla Renewables Ltd (ABRen), will add a contracted portfolio of around 5 GWp, comprising 3.3 GWp of operational capacity and 1.7 GWp under construction. Combined with ABRen's existing portfolio of around 4.4 GWp, the group's renewable energy portfolio will expand to 9.3 GWp, positioning it among the country's largest renewable energy players.
The acquisition is proposed to be funded through a mix of debt and equity infusion from Grasim Industries and funds managed by Global Infrastructure Partners (GIP), a part of BlackRock. The equity consideration payable to the seller will be determined after adjusting for debt, cash and other items specified in the transaction documents.
"Our 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," Kumar Mangalam Birla, Chairman, Aditya Birla Group, said.
Following the deal, Aditya Birla Renewables has reset its growth roadmap and is now targeting more than 20 GWp of renewable energy capacity over the next few years, having almost achieved its earlier target of around 10 GWp ahead of schedule.
"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," Aryaman Vikram Birla, Director, Aditya Birla Group and Aditya Birla Renewables, said.
He added, "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."
The transaction is expected to be completed before the end of calendar year 2026, subject to regulatory approvals and other customary closing conditions.
