Mitsubishi UFJ Financial Group (MUFG) has provided a sole-underwritten US$ one point six bn term loan facility to Aditya Birla Renewables Limited (ABRen) to support the acquisition of Solenergi Power Private Limited. The facility also includes the Sprng Energy group of companies, where MUFG acted as mandated lead arranger, underwriter and bookrunner. The financing strengthens ABRen's capacity to expand its renewable energy holdings in India.

The loan follows a July 2026 definitive agreement under which ABRen, a subsidiary of Grasim Industries Limited, agreed to acquire 100 per cent equity and securities in Solenergi Power in a Rs 17,200 crore transaction, equivalent to about Rs 172 bn and roughly US$ one point eight bn. The deal takes the combined renewable energy portfolio to nine point three GWp and positions ABRen among the largest clean energy operators in the country. The acquisition combines Sprng Energy's utility scale assets with ABRen's commercial and industrial platform.

Sprng Energy supplies solar and wind power to electricity distribution companies in India and holds a portfolio of five GWp of assets, comprising three point three GWp of operating capacity and one point seven GWp of contracted capacity. The sale transfers physical assets and commercial contracts in addition to corporate interests in Solenergi Power Private Limited. MUFG's role in arranging and underwriting the financing reflected strong lender support for large scale renewable consolidation.

The transaction is expected to be completed before the end of calendar year 2026, subject to regulatory approvals and customary conditions, and is intended to accelerate ABRen's growth strategy across utility and C&I segments. Market observers noted the deal underlines continued investor appetite for regulated renewable cash flows and integrated platforms. Aditya Birla Group's expanded footprint is likely to influence competition and project development pipelines in the coming years.