Aditya Birla Renewables Limited (ABRen), a subsidiary of Grasim Industries Limited, has secured a USD 1.6 billion term loan facility from Mitsubishi UFJ Financial Group (MUFG) to finance its proposed acquisition of Solenergi Power Private Limited, including the Sprng Energy group of companies.
In July 2026, ABRen concluded a final contract with Shell Overseas Investment B.V., a fully owned subsidiary of Shell plc, to purchase 100% equity shares and securities of Solenergi Power. Subject to regulatory clearances and other standard closing conditions, the transaction is anticipated to be finished by the end of 2026.
The acquisition will add a contracted renewable energy portfolio of around 5 GWp to ABRen’s platform, comprising approximately 3.3 GWp of operational capacity and about 1.7 GWp under construction. Following completion of the acquisition, ABRen’s renewable energy portfolio will expand from around 4.4 GW to approximately 9.4 GW, significantly advancing its target of building a renewable energy portfolio of more than 20 GWp over the next few years.
MUFG acted as Mandated Lead Arranger, Underwriter and Bookrunner in the financing transaction. The deal marks one of the largest acquisitions in India’s renewable energy sector and represents a significant addition to Aditya Birla Group’s renewable energy portfolio. The transaction is also expected to accelerate ABRen’s growth into one of the largest clean energy players in the country.
Shailesh V., MUFG’s Co-Head of APAC Capital Markets Group, said “This transaction underscores MUFG’s continued leadership in acquisition finance and our ability to provide capital certainty for strategically significant M&A transactions across Asia Pacific. Combining our strong underwriting capability and leveraging our distribution platform across markets and currencies, we are proud to support Aditya Birla Renewables at this important stage of its growth journey.”
“Aditya Birla Renewables is playing an important role in the expansion of India’s renewable energy capacity,” stated Shashank Joshi, Deputy CEO of MUFG in India. We appreciate MUFG’s trust and are happy to be a part of a deal that advances India’s energy transition as well as the company’s goals.
With more than 360 years of history and a network of more than 2,100 locations spread throughout more than 40 markets in the Americas, Europe, the Middle East and Africa, Asia, and Oceania, MUFG is a multinational financial group with its headquarters located in Tokyo.
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