Aditya Birla Renewables Limited (ABRen), a wholly owned subsidiary of Grasim Industries Ltd., has signed a definitive agreement to acquire a 100% equity stake and securities of Solenergi Power Private Limited (Sprng Energy) in a deal valued at ₹17,200 crore (approximately US$1.8 billion). The acquisition will expand the Aditya Birla Group’s combined renewable energy portfolio to 9.3 GWp, strengthening its presence in India’s clean energy sector
The transaction is among the largest acquisitions in India’s renewable energy sector in terms of both value and scale. It adds a contracted portfolio of approximately 5 GWp, comprising around 3.3 GWp of operational capacity and approximately 1.7 GWp of under-construction capacity, along with a strong connectivity and project development pipeline. The acquisition significantly accelerates ABRen’s renewable energy growth ambitions by combining its strong presence in the Commercial & Industrial (C&I) segment with Sprng Energy’s complementary utility-scale platform.
The transaction is expected to be completed before the end of calendar year 2026, subject to the receipt of necessary regulatory approvals and the satisfaction of other customary conditions under the transaction documents.
Sprng Energy has separately noted that it supplies solar and wind power to electricity distribution companies in India. Its portfolio consists of 5.0 gigawatts-peak (GWp) of assets (3.3 GWp operating and 1.7 GWp contracted). Shell is selling 100% of its interests in Solenergi Power Private Limited, which includes the Sprng Energy group of companies, including its physical assets and commercial contracts.
As shared at Capital Markets Day in March 2025, Shell is focusing on an asset-backed trading strategy in its Power business. This includes high-grading the portfolio, rebalancing towards flexible generation, and disciplined project execution across regions, to improve business performance and progress towards around 10% ROACE by 2030.
According to Aditya Birla Renewables, debt, cash, and other assets listed in the transaction paperwork will be taken into account before determining the equity consideration due to the seller. The transaction is expected to be financed by a combination of assets managed by Global Infrastructure Partners, a division of BlackRock, and debt and equity infusion from Grasim.
Commenting on the announcement, Kumar Mangalam Birla, Chairman, Aditya Birla Group, said, “Over a long arc of time, the Aditya Birla Group has built businesses at global scale that have contributed to India’s long-term growth, be it in building materials, metals, financial services, or retail. We view India’s energy transition through the same lens. At its core, this is about strengthening our nation’s energy future, enhancing industrial competitiveness, and creating the foundations for sustained economic growth.”
He added, “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 more than 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.”
Aryaman Vikram Birla, Director, 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. By integrating Sprng Energy’s high-quality utility-scale portfolio with our C&I capabilities, we are significantly enhancing both the strength and resilience of our combined platform. Additionally, Sprng Energy brings a high-quality asset base, creditworthy off-takers, and strong contracted cash flows.”
He added, “Having almost achieved our approximately 10 GWp target ahead of schedule, we are now on track to double our capacity over the next few years. This step-up reflects not just scale, but also a sharper focus on quality, execution, and long-term value creation.”
Electrify your feed! Click here to join our Whatsapp group and to get the latest updates, expert insights, and innovations driving India’s energy storage revolution.
