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Aditya Birla Renewables (ABRen), a subsidiary of Grasim Industries, has signed a definitive agreement to acquire Sprng Energy (formerly referred as Solenergi Power) from Shell Overseas Investment BV, a wholly owned subsidiary of Shell PLC.In one of the largest acquisitions in India’s renewable energy sector, the transaction values the business at an enterprise value of Rs 17,200 crore.The equity consideration payable to the seller will be determined after adjusting for debt, cash, and other items as specified in the transaction documents, Grasim Industries said in a statement on Monday.The acquisition will be funded through a mix of debt and equity infusion from Grasim and funds managed by Global Infrastructure Partners (GIP), a part of Blackrock.The transaction, expected to be completed later this year, adds a contracted portfolio of 5 GWp capacity, comprising 3.3 GWp of operational capacity and 1.7 GWp under construction, along with a robust development pipeline.Sprng Energy is a leading renewable energy platform in India, focused on developing and operating large-scale solar and wind projects. Sprng Energy supplies solar and wind power to electricity distribution companies in India.The acquisition accelerates ABRen’s renewable energy growth ambitions by combining its strong presence in the commercial and industrial (C&I) segment with Sprng Energy’s complementary utility-scale platform, Grasim Industries said.Kumar Mangalam Birla, Chairman, Aditya Birla Group, said the 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 over 20 GWp in the coming years,” he said.“More importantly, this deal positions the Group to participate meaningfully in one of the largest energy transformations underway anywhere in the world,” he added.Aryaman Vikram Birla, Director, Aditya Birla Group and Aditya Birla Renewables, said Sprng Energy brings a high-quality asset base, creditworthy off-takers and strong contracted cashflows.“Having nearly achieved our 10 GWp target ahead of schedule, the Group is now on track to double capacity in the next few years,” he added.Jayant Dua, Business Head, Aditya Birla Renewables, said the deal brings together two strong renewable energy platforms with complementary capabilities, geographical presence and a talented pool of professionals across key functional areas.The collective expertise of both companies can unlock meaningful operational synergies, significantly deepen organisational capabilities, and accelerate project execution, he said.ABRen is a leader in the C&I renewable power segment, serving leading corporates such as Grasim, Hindalco, UltraTech, Century Enka, among others.Its customer base also includes government utilities in Gujarat, Karnataka, Maharashtra and Odisha.Published on July 13, 2026
