Aditya Birla Renewables Ltd (ABRen), a subsidiary of Grasim Industries said it has signed a definitive agreement to acquire 100% equity and securities of Solenergi Power Private Ltd which owns the Sprng Energy group of companies, from Shell Overseas Investment B.V., a wholly owned subsidiary of Shell PLC valuing the target company at ₹17,200 crore ($1.8 billion).
This transaction is amongst the largest acquisitions in India’s renewable energy sector both by value and scale, ABRen said in a statement.
In February 2025 ONCG NTPC Green Private Ltd had announced a deal to acquire 100% of Ayana Renewable platform with a capacity of 4.112 GW for ₹19,500 crore.
In the ABRen-Shell deal, equity consideration payable to the seller will be determined after adjusting for debt, cash, and other items as specified in the transaction documents, the company said.
The acquisition is proposed to be funded through a mix of debt and equity infusion from Grasim and funds managed by Global Infrastructure Partners (a part of Blackrock), it added.
This transaction will add a contracted portfolio of 5 GWp capacity (3.3 GWp of operational capacity and 1.7 GWp of under construction capacity) along with connectivity and development pipeline, it further said.
Kumar Mangalam Birla, chairman, Aditya Birla Group, said, “This 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.”
“More importantly, it positions us 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, “This acquisition is a pivotal moment in ABRen’s evolution. Having almost achieved our 10 GWp target ahead of time, we are now on track to double capacity in the next few years. This step-up reflects not just scale, but a sharper focus on quality, execution, and long-term value creation.”
The transaction is expected to be completed before the end of the calendar year 2026.
ABRen has a portfolio of 4.4 GWp. It develops and operates captive renewable power projects for group companies Grasim, Hindalco, UltraTech, Century Enka, among others.
Also it supplies government utilities, including those in Gujarat, Karnataka, Maharashtra and Odisha.
Published - July 13, 2026 10:39 pm IST