A unit of the Birla Group has secured approximately $1.5 billion in acquisition financing from Mitsubishi UFJ Financial Group (MUFG) to fund its purchase of renewable energy assets from Shell Plc. The deal marks a significant step in the consolidation of India's clean energy landscape, with the loan priced at an all-in cost of about 160 basis points over the Secured Overnight Financing Rate (SOFR).
Birla Group secures $1.5 billion MUFG loan for Shell renewable assets
The acquisition financing, priced at 160 bps over SOFR, underscores the scale of capital flowing into India's renewable energy sector as major players consolidate assets.
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