Aditya Birla Renewables, the renewable energy arm of Grasim Industries, has announced the acquisition of Sprng Energy from global energy major Shell in a deal valued at $1.8 billion, including debt. The transaction is among the largest clean energy acquisitions in India and is expected to significantly strengthen the Aditya Birla Group’s presence in the country’s fast-growing renewable energy sector.
The acquisition will add approximately 5 gigawatts (GW) of renewable energy capacity to Aditya Birla Renewables’ portfolio. Following the deal, the group’s total renewable energy capacity will increase to 9.3 GW, making it one of India’s largest renewable energy developers.
India continues to accelerate its clean energy transition with a target of achieving 500 GW of non-fossil fuel power generation capacity by 2030, up from the current installed capacity of around 283 GW. The ambitious target has attracted significant investments from domestic business groups as well as international energy companies seeking opportunities in the country’s renewable energy market.
The renewable energy sector is currently led by companies such as Adani Green Energy and ReNew Energy Global, with Aditya Birla Renewables now emerging as another major player following the acquisition.
According to Grasim Industries, the final equity value of the transaction will be determined after adjustments for debt and cash. The acquisition will be financed through a combination of debt, equity infusion from Grasim Industries and funding from Global Infrastructure Partners (GIP), a unit of BlackRock.
Shell stated that the transaction is expected to be completed by the end of 2026, subject to regulatory approvals and customary closing conditions.
The deal also reflects a broader shift in strategy among several global energy companies. In recent years, firms such as Shell, BP and Equinor have slowed investments in renewable energy while increasing their focus on traditional oil, gas and liquefied natural gas (LNG) businesses. Under CEO Wael Sawan, Shell has prioritised upstream operations and LNG trading while reducing investments in low-carbon projects.
Shell had acquired Sprng Energy in 2022 for $1.55 billion and had been exploring strategic options for the business earlier this year. The sale marks another step in the company’s portfolio restructuring strategy.
For Aditya Birla Renewables, the acquisition represents a major milestone in expanding its clean energy footprint and supporting India’s transition towards a more sustainable and low-carbon energy future.
Disclaimer: This report has been editorially prepared using publicly available information. While every effort has been made to ensure accuracy, unintentional errors or omissions may occur. Readers are encouraged to verify important information through official sources.
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