The acquisition involves the purchase of 100% equity shares and securities of Solenergi Power Private Ltd, which owns Sprng Energy. The transaction adds a contracted renewable energy portfolio of around 5 GWp capacity, comprising nearly 3.3 GWp of operational capacity and around 1.7 GWp of under-construction capacity, along with a connectivity and development pipeline.
The equity consideration payable to the seller will be determined after adjustments for debt, cash and other items as specified in the transaction documents. The acquisition will be funded through a mix of debt and equity infusion from Grasim and funds managed by Global Infrastructure Partners (a part of BlackRock).
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Aditya Birla Renewables Ltd said the acquisition combines its presence in the Commercial & Industrial (C&I) segment with Sprng Energy’s utility-scale renewable energy platform.
Kumar Mangalam Birla, Chairman, Aditya Birla Group, said, “Over a long arc of time, the 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. We view India’s energy transition through the same lens. At its core, this is about strengthening our nation’s energy future, enhancing industrial competitiveness, and creating the foundations for sustained economic growth.”
He added, “This acquisition brings together two highly complementary platforms and marks an important milestone in ABRen’s evolution. Together, we will have a diversified portfolio and a deep development pipeline that puts us on course to scale to 20 GWp+ in the coming years. More importantly, it positions us to participate meaningfully in one of the largest energy transformations underway anywhere in the world.”
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The transaction is expected to be completed before the end of the calendar year 2026, subject to the receipt of necessary regulatory approvals and satisfaction of other customary conditions under the transaction documents.
Aryaman Vikram Birla, Director, Aditya Birla Group and Aditya Birla Renewables, said: “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.
By integrating Sprng Energy’s high-quality utilities portfolio with our C&I capabilities, we are significantly enhancing both the strength and resilience of our combined platform. Additionally, Sprng Energy brings a high-quality asset base, creditworthy off-takers and strong contracted cashflows.”
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Shares of Grasim Industries Ltd ended at ₹3,144.30, down by ₹67.75, or 2.11%, on the BSE.
