Competition Commission of India Approves Acquisition of Renewable Power Generation Plants
Key Ideas
- Competition Commission of India approved the acquisition of 21 SPVs, including renewable power generation plants, by Gentari Renewables India Pte. Ltd.
- The Acquirer, an indirect subsidiary of Petroliam Nasional Berhad, focuses on delivering clean energy solutions, including Renewable Energy, Hydrogen, and Green Mobility.
- The target entities are involved in the generation and sale of power through wind turbine and solar power plants.
- A detailed order from the Commission regarding the acquisition is expected to follow.
The Competition Commission of India has given its approval for the acquisition of 21 special purpose vehicles (SPVs) that own renewable power generation plants and the holding companies of certain SPVs by Gentari Renewables India Pte. Ltd. This acquisition is part of the Acquirer's strategy to expand its clean energy solutions in sectors like Renewable Energy, Hydrogen, and Green Mobility. The target entities, which are the subject of this acquisition, are primarily in the business of generating and selling power through wind turbines and solar power plants. The Commission is set to provide a detailed order outlining the approval and terms of the acquisition, further solidifying Gentari Renewables India Pte. Ltd.'s position in the renewable energy market.