Aditya Birla Renewables Limited has entered into an agreement to acquire 100 per cent equity shares and securities of Solenergi Power Private Limited from Shell Overseas Investment B.V., a wholly owned subsidiary of Shell PLC. Solenergi Power Private Limited owns the Sprng Energy group of companies. The transaction has an enterprise value of Rs 172 billion.
The acquisition will be financed through a combination of debt and equity infusion from Grasim and funds managed by Global Infrastructure Partners. The final equity consideration will be determined after adjustments for debt, cash, and other items. Upon completion, the deal will add a contracted renewable energy portfolio of about 5 GWp to Aditya Birla Renewables, comprising nearly 3.3 GWp of operational capacity and around 1.7 GWp of capacity currently under construction. The transaction is expected to close in 2026, subject to regulatory approvals and customary closing conditions.