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.

Merger approval granted for acquisition of renewable power SPVs, consolidating wind and solar generation assets. The Competition Commission of India approved Gentari Renewables India Pte. Ltd.'s proposed acquisition of special purpose vehicles and certain holding companies owning wind and solar power generation plants, consolidating ownership of renewable generation assets under the Acquirer, an indirect subsidiary of Petroliam Nasional Berhad; a detailed order will follow.