Shell Shares: Aditya Birla Group Agrees $1.8bn Deal for Sprng Energy

Shell shares (LON: SHEL) climbed over 2% on Monday, boosted by the rise in oil prices but also helped by the news that the energy major confirmed it has agreed to sell its Indian renewable energy business, Sprng Energy, to the Aditya Birla Group in a deal valuing the unit at roughly $1.8 billion.

Under the terms of the agreement, Aditya Birla Renewables Limited (ABRen), a subsidiary of Grasim Industries, will acquire 100% of Solenergi Power Private Limited, which owns Sprng Energy, from Shell Overseas Investment B.V. The transaction values the business at an enterprise value of INR 17,200 crore and ranks among the largest renewable energy acquisitions in India’s history by both scale and value.

The deal brings ABRen a contracted portfolio of approximately 5 GWp, comprising 3.3 GWp of operational capacity and 1.7 GWp under construction, alongside a robust development pipeline. Combined with ABRen’s existing assets, the merged portfolio totals 9.3 GWp, positioning the group as one of India’s largest integrated renewable energy platforms.

WELCOME BONUS - Free Share Bundle When You Invest £50! Get up to £500 cashback for investing with IG.

Invest in 15,000+ shares and ETFs. Open an account now, invest at least £50, and you’ll get a free share bundle worth between £40 and £200. T&Cs apply.

5.0

Open Account Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

Funding for the acquisition will come from a mix of debt and equity, with support from Global Infrastructure Partners, part of BlackRock. Aditya Birla Group Chairman Kumar Mangalam Birla said the move reflects the conglomerate’s commitment to India’s energy transition, while ABRen director Aryaman Vikram Birla noted the acquisition accelerates plans to eventually scale beyond 20 GWp.

For Shell, the disposal fits within its broader strategy of streamlining its global portfolio and reallocating capital toward core operations, even as investors reacted positively to news of the transaction.

The deal is expected to close before the end of 2026, pending regulatory approvals. Shell shares last traded at 3,109p, up 2.32% on the day.