Aditya Birla Renewables Ltd (ABRen), the renewable energy arm of Grasim Industries, has entered into an agreement to acquire Sprng Energy from Shell Overseas Investment BV in a transaction worth about $1.8 billion. The acquisition will create one of India’s largest integrated renewable energy platforms.In a statement, the Aditya Birla Group company said the deal assigns an enterprise value of Rs 17,200 crore ($1.8 billion) to Sprng Energy.The acquisition will bring nearly 5 gigawatt-peak (GWp) of contracted renewable energy capacity into ABRen’s portfolio, comprising around 3.3 GWp of operational projects and another 1.7 GWp currently under construction. Following the transaction, ABRen’s total portfolio will expand to about 9.3 GWp.The final equity payment to Shell will be calculated after taking into account adjustments related to debt, cash and other items outlined in the transaction agreements.According to the company, the acquisition will be financed via debt and equity contributed by Grasim Industries and funds managed by Global Infrastructure Partners, a part of BlackRock.The transaction will integrate ABRen’s commercial and industrial renewable energy business with Sprng Energy’s utility-scale renewable portfolio. Subject to regulatory clearances and other customary closing conditions, the deal is expected to be completed before the end of 2026.“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,” said Kumar Mangalam Birla, Chairman, Aditya Birla Group.He said the acquisition unites two businesses with highly complementary strengths and represents a significant milestone in the growth of ABRen. The combined entity will have a diversified portfolio and a strong project pipeline, providing a clear path to expanding capacity beyond 20 GWp over the coming years.“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,” he added.The company expects to complete the transaction before the end of calendar year 2026, subject to obtaining the required regulatory approvals and meeting the other customary conditions outlined in the transaction documents.