Aditya Birla Renewables Seeks $1.5 Billion Rupee Loans For Shell Unit Acquisition

Aditya Birla Renewables seeks $1.5 billion rupee-denominated loans to fund $1.8 billion acquisition of Shell's Indian renewable business Solenergi Power, including Sprng Energy, agreed in July. Company aims to replace $1.6 billion bridge loan from MUFG Bank with cheaper long-term project financing, tenor covering 80% of project lifecycles across 17-20 SPVs holding operational and under-construction assets.