Aditya Birla Renewables buys Shell's Sprng Energy in 17,200 crore deal

MUMBAI: Aditya Birla Renewables (ABRen), the renewable energy arm of Grasim Industries, is set to acquire Shell's India-based renewable energy business, Sprng Energy, for an enterprise value of Rs 17,200 crore ($1.8 billion) including debt, marking one of the largest transactions in the country's clean energy sector by value and scale. Kumar Mangalam Birla, chairman of Grasim, described the deal as central to "one of the largest energy transformations underway anywhere in the world."

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