Aditya Birla to sell stake in renewables business

Aditya Birla Group has hired Standard Chartered to sell up to 49 per cent stake in the group’s renewable energy business.

The group aims to raise around USD400 million with an aim to concretise its position in the clean energy sector. Notably, Aditya Birla Renewables Limited aims to establish 4.5 GW of installed renewable energy capacity by 2025-26 through utility, and commercial and industrial projects. It builds upon its current project portfolio of 2 GW, that comprises of existing and upcoming projects.