Aditya Birla Renewables to Acquire Shell’s 5 GWp Renewable Portfolio for ₹17,200 Crore

Aditya Birla Renewables Limited (a subsidiary of Grasim Industries) has signed a Share Purchase Agreement (SPA) on July 13, 2026, to acquire 100% of Solenergi Power Private Limited from Shell Overseas Investment B.V. for an enterprise value of ₹17,200 crore. Key Deal Metrics: Target Assets: Adds a massive ~5.0 GWp contracted portfolio to the acquirer, comprising 3.3 GWp operational and 1.7 GWp under-construction utility-scale renewable assets. Financials: Solenergi reported a consolidated turnover of ₹1,253.4 crore in FY25. The deal will be funded through a mix of debt and equity. Timeline & Approvals: Expected to close by December 31, 2026, subject to regulatory clearances, including from the Competition Commission of India (CCI) and the Central Transmission Utility (CTU). Strategic Impact: Portfolio Doubling: This mega-acquisition will nearly double Aditya Birla Renewables' existing diversified pan-India portfolio of ~4.4 GWp, catapulting it into the top tier of India's renewable energy players. Energy Transition: The deal strongly aligns with the Aditya Birla Group’s long-term sustainability and green energy transition objectives. Governance & Risk Mitigation: The company explicitly confirmed that this transaction will not impact the payment of interest or principal on its existing listed non-convertible debt securities, ensuring stability for current bondholders.