BlackRock unit agrees to invest ₹3,000 crore in Aditya Birla Renewables for minority stake

Aditya Birla Renewables Ltd (ABREN), a subsidiary of Grasim, has finalised an investment by Global Infrastructure Partners (GIP), part of BlackRock, of up to ₹3,000 crore ($335 million), with a commitment of ₹2,000 crore and a greenshoe option to invest another ₹ 1,000 crore for a minority stake.

The GIP investment translates into an enterprise value of ₹ 14,600 crore for ABREN.

ABREN has achieved a renewable energy portfolio of 4.3 GW across 10 states. This portfolio delivers solar, hybrid, floating solar, round-the-clock renewable power, reinforcing ABREN’s formidable position in sustainable energy, the company said. 

Kumar Mangalam Birla, Chairman, Aditya Birla Group, said, “India stands at the cusp of an energy transformation, arguably one of the largest anywhere in the world. The scale of the renewables opportunity in India is extraordinary, driven both by the urgent imperative of decarbonisation, and the sheer arithmetic of demand.”

“This business sits squarely at the intersection of national energy security and climate leadership, two defining priorities for the coming decades. GIP’s investment marks a pivotal moment in our growth journey, laying a strong foundation for an accelerated buildout of our renewables platform, as we target a capacity of over 10 GW in the coming years,” he said.

“We see our renewables business emerging as a powerful growth engine for the Group — technologically advanced, capital-efficient, and deeply aligned with the future India is building,” he added. 

Jayant Dua, Business Head, ABREN, said, “ABREN is on an accelerated growth journey. We aim to build a comprehensive renewables platform with a presence across all major technologies, focusing on both Commercial and Industrial (C&I) segment and utility-scale projects.”

Raj Rao, GIP President and Chief Operating Officer, said, “Today’s announcement will allow us to continue to support innovation at scale. Our investment reflects GIP’s confidence in India’s renewables sector and our commitment to advancing the energy transition in India.”