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Global Infrastructure Partners backs Aditya Birla Group’s $1.8 B acquisition of renewable energy pla
Source Economic Times (opens in a new tab)Press Release (opens in a new tab)BSE Announcement (opens in a new tab)
Aditya Birla Group has acquired Pune-headquartered renewable energy platform Sprng Energy for an enterprise value of USD 1.8 Billion. The acquisition will be financed through a combination of debt and equity infusion from Grasim Industries and PE investor Global Infrastructure Partners, a part of BlackRock.Sprng operates as a renewable energy platform that maintains a portfolio of utility-scale solar, wind, and hybrid assets across India. The acquisition expands the existing portfolio of Aditya Birla Renewables from 4.4 GWp to 9.3 GWp.
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In Mar 2017, Sprng Energy had attracted about $450 M from ActisFor FY25, Sprng Energy had reported about INR 111 Cr in Operating Income and about INR 113 Cr in Net Loss.