The Competition Commission of India (CCI) approves the acquisition by Greenko Mauritius (Acquirer/Greenko) in Teesta Urja Limited (Target/TUL), under Section 31(1) of the Competition Act, 2002.

The proposed combination relates to the acquisition by Greenko of approximately 35% equity stake in the paid-up equity share capital of TUL (Proposed Combination).

Acquirer is a wholly-owned subsidiary of Greenko Energy Holdings, incorporated in Mauritius. It is an investment holding company, having its investments in a portfolio of companies engaged in the power generation sector in India.

Target is a special purpose vehicle incorporated for the purpose of implementation of 1200 MW (6 units of 200 MW each) hydro power project in North Sikkim, Sikkim.

Detailed order of the CCI will follow.

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RM/KMN

Merger approval: competition authority clears acquisition of equity stake in a hydro power special purpose vehicle, detailed order pending. CCI approved Greenko Mauritius's acquisition of a significant minority equity stake in Teesta Urja Limited under Section 31(1) of the Competition Act, 2002; the target is a special purpose vehicle established to implement a hydro power project in North Sikkim and the acquirer is an investment holding subsidiary of Greenko Energy Holdings incorporated in Mauritius. A detailed order by the Commission will follow.