Competition watchdog clears Aditya Birla Renewables buy Solenergi Power ₹17,200cr
Business
Aditya Birla Renewables just got the green light from India's competition watchdog to buy Solenergi Power for ₹17,200 crore (about $1.8 billion).
With this deal, Aditya Birla is set to become a major force in India's clean energy scene, taking over all of Solenergi's shares from Shell and expanding its reach in the sector.
Solenergi Power brings about 5 GWp
Solenergi Power brings about 5 GWp of renewable energy projects to the table, including both running plants and ones still being built.
This will boost Aditya Birla Renewables's total capacity to nearly 9.3 GWp.
The purchase is being funded by a mix of debt and equity from Grasim Industries and Global Infrastructure Partners, showing some serious commitment to growing green power in India.