BlackRock is set to invest Rs 3,000 crore in Aditya Birla Group's renewable energy business, housed under Grasim, acquiring a minority stake.
This investment values the business at Rs 14,600 crore, underscoring the growing investor interest in India's clean energy sector. The partnership aims to accelerate the expansion of Grasim's renewable energy capacity, targeting over 10 GW of installed capacity. The deal follows similar investments by other conglomerates like Tata Group and Adani Group, which have also brought in external investors for their renewable ventures.
Aditya Birla Renewables currently operates a portfolio of 4.3 GW across 10 states, with projects in solar, wind, hybrid, and floating solar energy. The partnership with BlackRock's Global Infrastructure Partners marks a significant step in strengthening the company's renewable energy position in India. BlackRock's acquisition of Global Infrastructure Partners last year has created an infrastructure platform managing over USD 180 billion in assets, further boosting its interest in the Indian market.