New Delhi, July 13 (ANI): Aditya Birla Group on Monday announced the acquisition of Shell’s India renewable energy platform, Sprng Energy, in a deal valued at an enterprise value of Rs. 17,200 crore (approximately $1.8 billion), significantly expanding the group’s presence in India’s clean energy sector.
The acquisition will be completed through Aditya Birla Renewables Limited, a subsidiary of Grasim Industries, which has signed a Share Purchase Agreement to acquire 100% of the equity shares and securities of Solenergi Power Private Limited (SPPL), the Mauritius-based holding company of Sprng Energy, from Shell Overseas Investment B.V., a wholly owned subsidiary of Shell Plc.
The transaction remains subject to regulatory approvals and other customary closing conditions.
According to the stock exchange filing and an accompanying press release, the acquisition values Sprng Energy at an enterprise value of Rs. 17,200 crore (about $1.8 billion) and adds a contracted renewable energy portfolio of approximately 5 gigawatt-peak (GWp), including about 3.3 GWp of operational capacity and 1.7 GWp under construction.
The acquisition will be financed through a combination of debt and equity.
Calling it one of the largest transactions in India’s renewable energy sector, Aditya Birla Group Chairman Kumar Mangalam Birla said the acquisition brings together two highly complementary platforms and marks a significant milestone in the evolution of Aditya Birla Renewables.
“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,” he said.
The filing said the acquisition will accelerate Aditya Birla Renewables’ growth strategy by combining its existing diversified pan-India renewable energy portfolio of about 4.4 GWp with Sprng Energy’s utility-scale platform, creating a combined portfolio of approximately 9.3 GWp.
It added that the transaction offers an opportunity to expand through an established renewable energy platform rather than developing projects from the ground up and aligns with the group’s long-term sustainability goals and broader energy transition strategy.
Aryaman Vikram Birla, Director of Aditya Birla Group and Aditya Birla Renewables, said, “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 approximately 10 GWp target ahead of schedule, 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,” he added.
Sprng Energy develops and operates utility-scale solar and wind power projects across India.
According to the filing, the company reported consolidated revenue of Rs. 1,253.4 crore in fiscal year 2024-25, up from Rs. 1,158.1 crore in the previous fiscal year.
The acquisition is expected to be completed on or before Dec. 31, 2026, subject to approvals from the Competition Commission of India, the Central Transmission Utility of India Ltd., and other customary closing conditions. (ANI)
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