Aditya Birla Group acquires Shell's India renewables energy arm, Sprng Energy, for $1.8bn
Aditya Birla Group has acquired Shell's Indian renewable energy arm, Sprng Energy, for $1.8 billion. This acquisition significantly expands the group's renewable portfolio to 9.3 GWp, aiming for a future capacity of over 20 GWp.
Why it matters
This is a major consolidation in the Indian renewable energy sector, signaling a shift toward large-scale green energy infrastructure investment.
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.
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