A PYMNTS Company

India’s CCI Clears Solar Energy Deal

By  |  October 13, 2020

Competition Commission of India (CCI) has approved the acquisition of various solar energy assets by a joint venture of Adani Energy and Total Solar, reported Financial Express. 

Adani Green Energy Twenty Three, a joint venture of Total Solar Singapore and Adani Green Energy, will buy the assets from Adani Green Energy.

According to a combination notice filed with the watchdog, Adani Green Energy Twenty Three will acquire 100% shareholding of ten target companies. Adani Green Energy Ten is the holding entity of the target companies.

In a tweet on Tuesday, October 13, the CCI wrote that it has approved “acquisition of solar energy generation assets by Adani Green Energy Twenty Three, a joint venture of Total Solar Singapore & Adani Green Energy.”

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.