The Competition Commission of India (CCI), the regulatory body responsible for ensuring fair competition in the Indian market, has given its nod to Ardor Holdings II Pte. Ltd., an affiliate of KKR.
Ardor Holdings II Pte. Ltd. is a special purpose vehicle, indirectly wholly-owned by investment funds, vehicles, and accounts advised and managed by various subsidiaries of KKR & Co. Inc.
Hero Future Energies Global Limited is a private company incorporated in England and Wales. Hero Future Energies Global, which is part of the Hero Group, has been a leading player in the Indian renewable energy sector, with a strong portfolio of wind and solar energy projects across the country. The company has a commitment to sustainable development and has been at the forefront of efforts to promote the use of clean energy in India.
This move by KKR is seen as a significant step in its efforts to expand its presence in the Indian renewable energy sector, which has been growing rapidly in recent years. With the Indian government’s focus on promoting the use of clean and renewable energy sources, there has been a surge of investment in the sector, making it an attractive destination for global investors.
With the CCI’s approval, KKR is expected to bring its expertise and resources to the table, which will benefit Hero Future Energies Global in its efforts to expand its operations and strengthen its position in the Indian renewable energy sector. The deal is also expected to provide a boost to the Indian renewable energy sector as a whole, as it will bring in much-needed investment and help to drive the growth and development of the sector.
