Aditya Birla Renewables (ABREN) has agreed to buy Sprng Energy from Shell in a deal valued at $1.8 billion.
The acquisition covers 5 GW of renewable energy projects. That makes up about four-fifths of Shell’s total renewable capacity of 6.1 GW as of the end of 2025.
Sprng Energy was launched in 2017 by investment firm Actis. Shell bought the company in 2022 for $1.55 billion. At the time, Shell said the deal would help it meet its net-zero target by 2050.
Shell said the sale fits its new strategy announced in March 2025. The company plans to focus on flexible power generation and improve business performance, with a goal of reaching around 10% return on average capital employed by 2030.
“This agreement reflects Shell’s continued focus on adjusting the portfolio in our power business,” said Machteld de Haan, President of Downstream, Renewables and Energy Solutions at Shell.
ABREN will fund the deal with debt and equity from Aditya Birla Group’s Grasim and funds managed by Global Infrastructure Partners (GIP). GIP took a minority stake in ABREN late last year to support its growth.
With the acquisition, ABREN’s total capacity will rise to 9.3 GW in operation and under construction. The deal will make ABREN one of the largest renewable energy companies in India.
“This acquisition brings together two highly complementary platforms and marks an important milestone in ABREN’s evolution,” said Aditya Birla Group Chairman Kumar Mangalam Birla. “It positions us to participate meaningfully in one of the largest energy transformations underway anywhere in the world.”
India is rapidly expanding clean energy. The country aims to reach 500 GW of renewable capacity by 2030. The government announced this week that it has already met its target of 50% of installed power from non-fossil sources, ahead of the 2030 deadline.
