Aditya Birla Renewables (ABRen), the renewable energy subsidiary of Grasim Industries, has signed a definitive agreement to acquire Sprng Energy from Shell Overseas Investment for an enterprise value of ₹172 billion (~$1.8 billion).

ABRen will acquire all equity shares and securities of Solenergi Power, which owns the Sprng Energy group of companies.

This transaction adds a contracted portfolio of ~5 GW of capacity (~3.3 GW operational and ~1.7 GW under construction), along with a strong pipeline of connectivity and development.

ABRen has a portfolio of over 4.3 GW, primarily serving commercial and industrial customers. The acquisition will increase the combined contracted portfolio to about 9.3 GW.

Shell acquired Sprng Energy in 2022. Its current portfolio consists of large-scale solar and wind projects across India.

The equity consideration payable to Shell will be determined after adjustments for debt, cash, and other items specified in the transaction documents.

ABRen plans to fund the acquisition through a combination of debt and equity contributions from Grasim Industries and funds managed by Global Infrastructure Partners (GIP), part of BlackRock.

The transaction is expected to close before the end of 2026, subject to regulatory approvals and other customary closing conditions.

Aditya Birla Group Chairman Kumar Mangalam Birla said the acquisition would bring together two complementary renewable energy platforms and support the company’s plan to expand its portfolio beyond 20 GW over the coming years.

The transaction will combine ABRen’s commercial and industrial renewable energy operations with Sprng Energy’s utility-scale platform. Sprng will also add its project connectivity and development pipeline to the combined business.

ABRen develops and operates captive renewable energy projects for companies including Grasim Industries, Hindalco Industries, UltraTech Cement, and Century Enka and supplies renewable energy to government utilities in Gujarat, Karnataka, Maharashtra, and Odisha.

Last year, ABRen secured an investment commitment of ₹20 billion (~$222.37 million) from GIP, with a greenshoe option to invest an additional ₹10 billion (~$111.18 million).

In February 2026, Sprng Energy was awarded 100 MW under Calcutta Electric Supply Corporation’s auction to develop 600 MW of interstate transmission system-connected wind-solar hybrid projects across India under a build-own-operate model.