The company will make the acquisition from Shell Overseas Investment B.V and the transaction is amongst the largest acquisitions in India’s renewable energy sector both by value and scale, according to a statement.
The acquisition is proposed to be funded through a mix of debt and equity infusion from Grasim and funds managed by Global Infrastructure Partners (a part of Blackrock), it added.
The transaction adds a contracted portfolio of 5 GWp capacity (3.3 GWp of operational capacity and 1.7 GWp of under construction capacity) along with a strong connectivity and development pipeline.
The transaction accelerates Aditya Birla Renewables growth ambitions by combining its strong presence in the Commercial & Industrial segment with Sprng Energy’s complementary utility-scale platform.
“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,” Kumar Mangalam Birla, Chairman, Aditya Birla Group, said.
“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,” 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,” Aryaman Vikram Birla, Director, Aditya Birla Group and Aditya Birla Renewables, said.
The transaction is expected to be completed before the end of the calendar year 2026,