CCI approves the proposed acquisition of 21 SPVs, owning renewable power generation plants, and the holding companies of certain SPVs by Gentari Renewables India Pte. Ltd.

The Competition Commission of India has approved the proposed acquisition of 21 SPVs, owning renewable power generation plants, and the holding companies of certain SPVs by Gentari Renewables India Pte. Ltd.

The proposed combination envisages acquisition of 21 special purpose vehicles (SPVs), owning renewable power generation plants, and the holding companies of certain SPVs by Gentari Renewables India Pte. Ltd. (Acquirer).

The Acquirer is an indirect subsidiary of Petroliam Nasional Berhad. The Acquirer is focused on delivering clean energy solutions through three initial core pillars: Renewable Energy, Hydrogen and Green Mobility.

The target entities are engaged in the business of generation and sale of power through wind turbine and solar power plant.

Detailed order of the Commission will follow.