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The Economic Times

Aditya Birla Group acquires Shell's India renewables energy arm, Sprng Energy, for $1.8bn

Aditya Birla Group Sprng Energy India Renewable Energy

Aditya Birla Group on Monday announced the acquisition of Shell's India renewable energy platform, Sprng Energy, for an enterprise value of $1.8 billion (around Rs 17,200 crore), in one of the largest acquisitions in India's renewable energy sector by value and scale.

The acquisition, through Aditya Birla Renewables Ltd (ABRen), will add a contracted portfolio of around 5 GWp, comprising 3.3 GWp of operational capacity and 1.7 GWp under construction. Combined with ABRen's existing portfolio of around 4.4 GWp, the group's renewable energy portfolio will expand to 9.3 GWp, positioning it among the country's largest renewable energy players.

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