CCI Approves Gentari Renewables’ Acquisition of 21 SPVs in Renewable Energy Sector

The Competition Commission of India (CCI) has given its approval for Gentari Renewables India Pte. Ltd. to acquire 21 special purpose vehicles (SPVs) and the holding companies associated with some of these SPVs. The SPVs collectively own renewable power generation assets, including wind and solar power plants.

Gentari Renewables India Pte. Ltd., the acquiring entity, is an indirect subsidiary of Petroliam Nasional Berhad (Petronas), the Malaysian state-owned energy giant. Gentari is committed to advancing clean energy solutions, focusing on three core areas: renewable energy, hydrogen production, and green mobility.

The acquisition will strengthen Gentari’s portfolio in India’s renewable energy sector, aligning with its mission to accelerate the global energy transition. The target entities are primarily involved in the generation and sale of power through wind turbines and solar plants, contributing to the country’s renewable energy goals.

The detailed order from the Commission regarding this acquisition is expected to follow soon, shedding more light on the specifics of the transaction.

This approval marks another step forward in India’s journey toward sustainable energy solutions, as international players like Gentari continue to invest in the nation’s growing renewable energy market.