Newsletter
Aditya Birla Renewables is buying Shell-backed Sprng Energy in a landmark renewable energy acquisition.
And it's no small cheque. The deal is valued at ₹17,200 crore (around $1.8 billion), making it one of the largest transactions the sector has seen in India.
The deets: the Aditya Birla Group will acquire 100% of Sprng Energy from global energy giant Shell. The acquisition includes 5 GW of renewable energy capacity, of which 3.3 GW is already operational, while the rest is under construction.
The why: the group has big clean energy ambitions. With Sprng Energy under its belt, it expects to scale its renewable energy portfolio to more than 20 GW over the next few years. It also strengthens its presence in supplying green power to industries and large electricity distribution companies.
So why is Shell selling: Shell bought Sprng Energy from private equity firm Actis for around $1.5 billion in 2023 and expanded the business over the last three years. Now, the oil major appears to be monetising its investment, a common strategy where global companies sell mature assets and redeploy capital into newer opportunities.
Worth noting: this wasn't a straightforward sale. Several heavyweight investors, including KKR, NIIF and Sembcorp, were in the race to buy Sprng Energy.
Zoom out: India’s renewable energy sector is no longer a side bet. As of June 2026, the country had around 289 GW of renewable capacity, including 162 GW of solar and over 57 GW of wind.
India added more than 48 GW of renewable capacity in 2025 alone, its highest-ever annual addition.
Non-fossil sources now make up more than half of India’s installed power capacity, though they generated about 29% of the country’s electricity in FY26.
