Aditya Birla Renewables Acquires Solenergi Power in Move to Accelerate Renewable Energy Footprint
Aditya Birla Renewables Limited (ABReN), a subsidiary of Grasim Industries Ltd., has approved the acquisition of 100% of the equity shares and securities of Solenergi Power Private Limited (SPPL). The transaction involves acquiring the Mauritius-incorporated company from Shell Overseas Investment B.V., a wholly-owned subsidiary of Shell PLC, through a Share Purchase Agreement.Upon completion of the deal, SPPL and its subsidiaries will become part of ABReN, thereby becoming subsidiaries of Grasim Industries Ltd. The acquisition is set for completion on or before December 31, 2026, and the consideration involves cash payment.
SPPL, which was incorporated in Mauritius in September 2016, operates as an investment holding company for Sprng Energy Private Limited and Sprng Solar Plus Private Limited (Jaisalmer SPV). The target entity is involved in electric power generation using other non-conventional sources.
The acquisition provides ABReN with a significant opportunity to expand its renewable energy footprint by acquiring an established platform rather than developing projects on a greenfield basis. This move aligns with the company’s long-term sustainability objectives and accelerates its growth strategy, complementing its diversified portfolio of roughly 4.4 complementary utility scale renewable energy assets.
Key details regarding the target entity and the acquisition are summarized below:
| Particulars | Details |
|---|---|
| Target Entity | Solenergi Power Private Limited (SPPL), incorporated in Mauritius. |
| Acquirer Stake | 100% of the equity shares and securities of SPPL. |
| Transaction Type | Acquisition of SPPL from Shell Overseas Investment B.V. |
| Industry | Electric power generation using other non-conventional sources. |
| Contracted Portfolio Size | Approximately 5.0 GWp, comprising ~3.3 GWp in operational capacity and ~1.7 GWp under construction. |
| Consolidated Turnover (FY 25) | INR 1,253.4 crore. |
| Enterprise Value of Acquisition | INR 17,200 crore (approximately $1.8 Billion). |
The transaction is subject to the receipt of several regulatory approvals, including approval from the Competition Commission of India and the Central Transmission Utility. Furthermore, it must satisfy other customary conditions stipulated in the Share Purchase Agreement.
GRASIM Stock Price Movement
Shares of Grasim Industries Limited slipped today, finishing at ₹3144.3 after shedding ₹87.60 (2.73%). The equity saw strong trading activity with 654,390 shares traded as the stock closed amidst high performance levels.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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