Gentari Renewables India's Acquisition of Renewable Energy SPVs in India
Key Ideas
  • Competition Commission of India approved Gentari Renewables India's acquisition of 21 Special Purpose Vehicles (SPVs) of renewable power generation projects from Brookfield Group.
  • Gentari, a subsidiary of Petronas, is focused on clean energy solutions, including hydrogen production, and is expanding its renewable energy portfolio in India.
  • The company has secured power purchase agreements and won auctions to set up significant wind and solar projects to contribute to India's renewable energy sector.
  • Gentari is integrating energy storage solutions to support its renewable energy projects, enhancing reliability and grid stability.
The Competition Commission of India has given the green light for Gentari Renewables India, based in Gurugram, to acquire 21 Special Purpose Vehicles (SPVs) of renewable power generation projects and holding companies from the Brookfield Group. The acquisition includes assets of well-known entities like TerraForm, Axis, Electryone, NTPC, and NHPC, all engaged in wind and solar power generation within India. Gentari, an indirect subsidiary of Petronas, a Malaysian oil and gas giant, is strategically moving towards clean energy solutions, including hydrogen production and green mobility. The company has recently signed a significant power purchase agreement to supply 650 MW of renewable energy for green ammonia facilities and won an auction to establish wind-solar hybrid power projects. Gentari is ramping up its renewable energy capacity in India by setting up 2,400 MW of combined wind and solar projects, integrated with energy storage for grid stability. This move not only showcases Gentari's commitment to clean energy but also contributes to India's renewable energy goals.
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