India’s Aditya Birla Renewables to buy Sprng Energy from Shell
Grasim Industries’ (NYSE: GRAS) renewables unit will buy Sprng Energy from British oil major Shell (LON: SHEL) in a deal worth $1.8 billion, including debt, in one of India’s largest clean energy acquisitions, the companies said on Monday.The acquisition will add 5 gigawatts in capacity to Aditya Birla Renewables’ portfolio, Grasim, the flagship company of India’s Aditya Birla Group, said.The deal takes the group’s renewables portfolio to 9.3 GW, making it one of the largest players in the country’s growing clean energy sector.