Aditya Birla Renewables acquired Sprng Energy’s holding company for Rs 17,200 crore ($1.8 billion), marking one of the largest acquisitions in India’s renewable energy sector. Sprng Energy’s holding company is Mauritius-based Solenergi Power, which is owned by British oil major Shell Plc.
Aditya Birla Renewables is a subsidiary of listed Grasim Industries.
The deal, announced in a stock exchange notice on Monday, will catapult Aditya Birla Renewables into the upper echelons of the sector, with a generation capacity of 9.2 gigawatts. Sprng Energy operates in India and was purchased by Shell three years ago from global private equity firm Actis.
Shell launched the process to sell Sprng Energy last year, mandating Barclays as advisor. ET was first to report this on October 8, 2025. ET was also first to report on January 31 that Aditya Birla was among four contenders shortlisted to bid for Sprng after the sale process was launched.
“Over a long arc of time, Aditya Birla Group has built businesses at global scale that have contributed to India’s long-term growth, be it in building materials, metals, financial services or retail,” said Kumar Mangalam Birla, chairman, Aditya Birla Group. “At its core, this is about strengthening our nation’s energy future, enhancing industrial competitiveness, and creating foundations for sustained economic growth.”
‘Top-tier Energy Platform’
Sprng Energy has a 5 GW renewable energy generation portfolio and its output is contracted to reliable counterparties such as state-owned entities.
Shareholders of Shell have been nudging the company to focus on its core business of oil and gas exploration and production, hence the move to divest Sprng Energy, according to people familiar with the matter.
“This acquisition is a pivotal moment in ABRen’s evolution, rapidly accelerating our ambition to build a top-tier renewable energy platform at national scale,” said Aryaman Vikram Birla, director, Aditya Birla Group and Aditya Birla Renewables. “By integrating Sprng Energy’s high quality utilities portfolio with our C&I (commercial and industrial) capabilities, we are significantly enhancing both the strength and resilience of our combined platform.”
ET had reported on June 26 that Aditya Birla was lining up Rs 15,000 crore in term loans from State Bank of India and Axis Bank for the acquisition. Talks moved toward a conclusive stage last week when Shell executives visited India and reviewed Birla’s proposal, giving their approval, according to people aware of the matter.
Aditya Birla was competing with KKR, Actis and National Investment and Infrastructure Fund for Sprng Energy, which had a consolidated turnover of Rs 1,253 crore in FY25, according to stock exchange disclosures.
Source: Economic Times