The Aditya Birla Group has signed a definitive agreement to acquire 100% equity shares and securities of Solenergi Power Private Limited, which owns the Sprng Energy group of companies, from Shell Overseas Investment B.V., a wholly owned subsidiary of Shell plc. The proposed acquisition through Aditya Birla Renewables Limited (ABRen) marks one of the largest transactions in India’s renewable energy sector in terms of both value and scale.
The transaction values the business at an enterprise value of ₹17,200 crores (US$1.8 billion). The equity consideration payable to the seller will be determined after adjustments for debt, cash and other items as specified in the transaction documents. The acquisition will be funded through a combination of debt, equity infusion from Grasim Industries Ltd., and investments from funds managed by Global Infrastructure Partners, a part of BlackRock.
Strengthening Renewable Energy Capabilities
The proposed acquisition adds a contracted renewable energy portfolio of 5 GWp, including 3.3 GWp of operational capacity and 1.7 GWp currently under construction. It also provides ABRen with a strong connectivity network and an attractive project development pipeline, significantly accelerating its renewable energy growth ambitions.
By combining ABRen’s strong presence in the Commercial & Industrial (C&I) renewable energy segment with Sprng Energy’s utility-scale portfolio, the Group aims to create a diversified renewable energy platform capable of supporting India’s rapidly growing clean energy demand.
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Leadership on the Strategic Acquisition
Mr. 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 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.”
Expanding Towards a 20 GWp Vision
Mr. 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 utilities 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 cashflows.”
He added: “Having almost achieved our 10 GWp target ahead of time, 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.”
Operational Synergies Expected
Mr. Jayant Dua, Business Head, Aditya Birla Renewables Limited said: “This combination brings together two strong renewable energy platforms with complementary capabilities, geographical presence, customer relationships, and a talented pool of professionals across key functional areas. By leveraging our collective expertise across project development, engineering, procurement, construction, and asset management, we believe we can unlock meaningful operational synergies, significantly deepen our organizational capabilities, and accelerate project execution. Our priority will be to ensure business continuity, deliver reliable clean power to customers, and continue building a best-in-class renewable energy platform.”
Transaction Expected to Close in 2026
The transaction is expected to be completed before the end of calendar year 2026, subject to the receipt of necessary regulatory approvals and the fulfillment of customary closing conditions.
With the addition of Sprng Energy’s contracted portfolio, ABRen is poised to significantly strengthen its renewable energy footprint and advance its long-term growth strategy. The acquisition underscores the Aditya Birla Group’s commitment to expanding its presence in India’s clean energy sector while supporting the country’s transition towards a more sustainable energy future.
