Aditya Birla Group Acquires Shell-Backed Sprng Energy in Major Renewable Energy Deal
Aditya Birla Renewables Ltd (ABRen), the renewable energy division of Grasim Industries, has finalized an agreement to acquire Sprng Energy from Shell Overseas Investment BV for approximately $1.8 billion. This acquisition is set to establish one of India’s largest integrated renewable energy platforms. The deal assigns an enterprise value of Rs 17,200 crore to Sprng Energy, significantly enhancing ABRen’s capacity in the renewable sector.
The acquisition will add nearly 5 gigawatt-peak (GWp) of contracted renewable energy capacity to ABRen’s portfolio, which includes around 3.3 GWp of operational projects and an additional 1.7 GWp currently under construction. Following the transaction, ABRen’s total portfolio will expand to approximately 9.3 GWp. The final equity payment to Shell will be determined after adjustments related to debt, cash, and other items specified in the transaction agreements.
Financing for the acquisition will be sourced through a combination of debt and equity from Grasim Industries and funds managed by Global Infrastructure Partners, part of BlackRock. The transaction will merge ABRen’s commercial and industrial renewable energy business with Sprng Energy’s utility-scale renewable portfolio. Completion of the deal is anticipated before the end of 2026, pending regulatory approvals and customary closing conditions.
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