GIP to invest up to Rs 3,000 crore in Aditya Birla Renewables

Global Infrastructure Partners, part of BlackRock, will invest up to Rs 3,000 crore in Aditya Birla Renewables Limited. The company has said that the investment values the platform at about Rs 14,600 crore.

GIP will provide Rs 2,000 crore in stages through compulsory convertible preference shares and equity shares. It also holds a greenshoe option to add Rs 1,000 crore in equity. Essel Mining and Industries Limited will separately invest Rs 500 crore this financial year to meet capital needs.

Aditya Birla Renewables operates about 4.3 GW of solar, hybrid, floating solar and round-the-clock renewable projects across 10 states. It supplies captive power to group companies such as Grasim, Hindalco, UltraTech and Century Enka. The company plans to scale beyond 10 GW.

GIP, acquired by BlackRock in 2024, focuses on large infrastructure assets. Raj Rao, its President and Chief Operating Officer, said the investment shows confidence in India’s renewable sector and supports the country’s energy transition.

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