The Competition Commission of India (CCI) has approved the acquisition of 100% of the issued share capital of Solenergi Power Pvt Ltd by Aditya Birla Renewables Ltd, a renewable energy company engaged in solar and wind power generation.
The acquisition will be made from Shell Overseas Investment B.V., the seller, and involves the transfer of the entire share capital of Solenergi Power.
Acquirer operates in renewable energy
Aditya Birla Renewables, along with its subsidiaries, is engaged in power generation through renewable energy sources, including solar and wind. Its activities also include captive engineering, procurement and construction (EPC) operations.
Target has renewable energy interests
Solenergi Power is primarily a holding company registered in Mauritius, with no business activities other than holding investments.
In India, it has a presence through downstream holding entities and companies engaged in renewable power generation through solar and wind energy.