Home / Business and Economy / Birla Group Buys Shell's India Energy Arm for $1.8B
Birla Group Buys Shell's India Energy Arm for $1.8B
14 Jul
Summary
- Aditya Birla Renewables acquired Sprng Energy for Rs 17,200 crore.
- The deal significantly boosts Aditya Birla Renewables' capacity to 9.2 gigawatts.
- Sprng Energy was previously owned by Shell Plc and operates across India.
Aditya Birla Renewables has finalized the acquisition of Sprng Energy's holding company, Solenergi Power, for Rs 17,200 crore ($1.8 billion). This landmark transaction positions Aditya Birla Renewables among the top players in India's renewable energy sector, expanding its generation capacity to 9.2 gigawatts.
Sprng Energy, which operates across India, was previously owned by Shell Plc, having been acquired by the oil major from Actis three years prior. The deal represents a significant move for the Aditya Birla Group, reinforcing its commitment to strengthening India's energy infrastructure and fostering economic growth.
Kumar Mangalam Birla, chairman of the Aditya Birla Group, emphasized the strategic importance of this acquisition in building India's energy future and enhancing industrial competitiveness. Aryaman Vikram Birla, director of the Aditya Birla Group, highlighted that integrating Sprng Energy's portfolio with their existing commercial and industrial capabilities creates a more robust and resilient renewable energy platform.
The acquisition was supported by term loans totaling Rs 15,000 crore from State Bank of India and Axis Bank. Aditya Birla Renewables competed with KKR, Actis, and the National Investment and Infrastructure Fund for Sprng Energy, which reported a consolidated turnover of Rs 1,253 crore in FY25.
