Aditya Birla Group has acquired ownership over Sprng Energy for $1.8 billion announced by Shell Plc on Monday. Sprng Energy is a subsidiary of Shell Plc.
With this latest transition, Sprng Energy has now changed hands twice in less than four years.
The landmark deal will increase Aditya Birla Renewables Ltd’s (ABRL) renewable energy capacity to 9.3 GW, as per a statement by the Aditya Birla Group.
Sprng Energy’s portfolio includes 3.3 GW of operational capacity alongside 1.7 GW capacity under construction. These procurements will make ABRL the fifth-largest renewable energy company in India.
Kumar Mangalam Birla, Chairman, Aditya Birla Group has stated that the deal will support the company”s target to build 20 GW of renewable energy capacity, highlighting that “it positions us to participate meaningfully in one of the largest energy transformations underway anywhere in the world,”
