Aditya Birla Group’s Big Move: Major Deal in Renewable Energy Sector; ₹17,200 Crore Outlay
Aditya Birla Renewables Limited (ABRen), a subsidiary of Grasim Industries, has announced one of the largest deals in India’s renewable energy sector.
The company has signed a definitive agreement to acquire 100% of Solenergi Power Private Limited and the Sprng Energy Group from Shell Overseas Investment B.V., a wholly-owned subsidiary of Shell PLC.
The enterprise value for this acquisition has been set at ₹17,200 crore (approximately $1.8 billion). However, the final equity amount payable to the seller will be determined after adjustments for debt, cash, and other business-related factors.
Addition of 5 GWp Capacity
This acquisition will add approximately 5 GWp of contracted capacity to Aditya Birla Renewables’ portfolio. This comprises 3.3 GWp of operational capacity and 1.7 GWp of capacity currently under construction. Additionally, the company will gain robust grid connectivity and a development pipeline for future projects.
Funding via Debt and Equity
The company stated that the deal will be funded through a combination of debt, equity investment from Grasim Industries, and funds managed by Global Infrastructure Partners (GIP). GIP is now part of BlackRock.
Goal to Achieve 20 GWp Capacity
Aditya Birla Group Chairman Kumar Mangalam Birla stated that this acquisition marks a significant milestone in ABRen’s growth. According to him, following this deal, the company will possess a diversified portfolio and a robust project pipeline, paving the way to reach a capacity of over 20 GWp in the coming years.
He added that the Group views India’s energy transition as a long-term growth opportunity. This investment will help strengthen the country’s energy future, enhance industrial competitiveness, and accelerate economic growth.
~10 GWp target within reach ahead of schedule
Aryaman Vikram Birla, Director, Aditya Birla Group and Aditya Birla Renewables, stated that this acquisition marks a transformative step for the company. He noted that the company is close to achieving its target capacity of approximately 10 GWp ahead of schedule and is now moving towards doubling its capacity over the next few years.
A strong combination of C&I and utility-scale businesses
Jayant Dua, Business Head of ABRen, said that the addition of Sprng Energy would create a robust combination of the company’s Commercial & Industrial (C&I) capabilities and its utility-scale renewable energy platform.
This will foster better synergy across project development, engineering, procurement, construction, and asset management, while accelerating the pace of project execution. According to the company, the acquisition is expected to be completed by the end of 2026, subject to necessary regulatory approvals and the fulfillment of other stipulated conditions.
