SynopsisGrasim Industries' renewable energy arm will acquire Solenergi Power from Shell. This acquisition significantly expands its clean energy portfolio to 9.4 GW. The deal, valued at Rs 17,200 crore, is expected to close by 2026. Funding will come from debt, equity, and an investment by Global Infrastructure Partners. The combined entity aims for 20 GW of renewable capacity within three years.ETMarkets.comFollowing the acquisition, Aditya Birla Renewables' total renewable energy portfolio will increase to 9.4 GW from 4.4 GW.Shares of Grasim Industries Ltd. are likely to remain in focus on Tuesday after the company announced that its subsidiary, Aditya Birla Renewables, will acquire Solenergi Power from Shell Overseas Investment B.V., a wholly owned subsidiary of Shell Plc.The transaction has been agreed at an enterprise value of Rs 17,200 crore. Under the Share Purchase Agreement, Aditya Birla Renewables will acquire 100% of the equity shares and other securities of Solenergi Power, including those of its subsidiaries.Solenergi Power, incorporated in Mauritius, is the holding company of Sprng Energy and Sprng Solar Plus. The acquisition is expected to strengthen Aditya Birla Renewables' position in the clean energy space. The company has a contracted renewable energy portfolio of nearly 5 GWp, including 3.3 GWp of operational assets and another 1.7 GWp that is currently under construction.Also Read | CCI moves SC against NCLAT order quashing penalty on GrasimFollowing the acquisition, Aditya Birla Renewables' total renewable energy portfolio will increase to 9.4 GW from 4.4 GW. The expansion brings the company closer to its goal of building 20 GW of renewable energy capacity over the next three years.On the financial front, Solenergi Power reported consolidated revenue of Rs 1,156.5 crore in FY23, Rs 1,158.1 crore in FY24 and Rs 1,253.4 crore in FY25.Grasim said the acquisition will be funded through a mix of debt, equity infusion from Grasim Industries and an investment by Global Infrastructure Partners (GIP), a wholly owned subsidiary of BlackRock.In December 2025, GIP invested Rs 2,000 crore in Aditya Birla Renewables, with a greenshoe option of Rs 1,000 crore. The investment valued the renewable energy platform at Rs 14,600 crore. According to the latest available data, Aditya Birla Renewables had standalone debt of Rs 6,879 crore and consolidated debt of Rs 36,915 crore.The deal is expected to close by the end of calendar year 2026, subject to customary regulatory approvals and other closing conditions.Grasim management commentaryAditya Birla Group Chairman Kumar Mangalam Birla said the deal brings together two highly complementary platforms and marks a significant milestone in the evolution of Aditya Birla Renewables. He said the combined entity will have a diversified portfolio and a strong development pipeline, putting it on track to scale beyond 20 GWp in the coming years. Birla added that the acquisition also positions the company to play a meaningful role in one of the world's largest ongoing energy transitions.Aryaman Vikram Birla, Director at Aditya Birla Group and Aditya Birla Renewables, described the transaction as a pivotal moment for the company, saying it significantly accelerates its ambition of building a national-scale renewable energy platform. He said the integration of Sprng Energy's utility-scale portfolio with Aditya Birla Renewables' commercial and industrial capabilities will strengthen and improve the resilience of the combined platform. He added that Sprng Energy also brings a high-quality asset base, creditworthy off-takers and strong contracted cash flows.Also Read | Stocks to buy in 2026 for long term: Jubilant FoodWorks, Grasim among 5 stocks that could give 10-30% returnGrasim share price performanceGrasim shares have risen 12% in the last one year. 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