Abu Dhabi’s Masdar gets CCI nod to buy stake in Hero Future


The Competition Commission of India has approved Abu Dhabi Future Energy Company’s plan to acquire minority equity stake in Hero Future Energies Global Ltd, the UK-based controlling arm of Indian developer Hero Future Energies. The transaction will also see Abu Dhabi Future Energy (also known as Masdar) subscribe to non-voting compulsorily convertible preference shares in Hero Future Energies India.

“The proposed combination in terms of Regulation 5A of the Combination Regulations (i.e. notice for approval of Combinations under Green Channel) is deemed to be approved upon filing and acknowledgement thereof”—read a CCI statement.

The green channel route for mergers & acquisitions allows fast and automatic approvals for clean energy projects.

“The proposed transaction represents an attractive investment opportunity for Abu Dhabi Future Energy Company in the renewable energy sector in India. It will benefit from the Hero Future’s established business, which exhibits strong execution and attractive profitability in its early stages of growth. At the same time, the transaction will help Hero Future to add value to its business”—CCI said.

Abu Dhabi renewable energy business Masdar is wholly owned by the emirate’s state-owned Mubadala Investment Company. Its renewable energy projects are located in the UAE, Jordan, Mauritania, Egypt, Morocco, Serbia, Spain and the U.K.

Established in 2006, Masdar develops utility-scale and off-grid renewable energy projects.

Hero Future Energies India is a wholly owned subsidiary of Hero Future Energies Asia, which is 100% held by Hero Future Energies UK. It is primarily engaged in the implementation of power projects and generation of power from renewable sources of energy, and also provides professional consultancy services.


This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.

Popular content

Alpex Solar appoints global head of EPC business
11 July 2024 Alpex Solar Ltd has appointed Gaurav Bector as the global head of its EPC (engineering, procurement and construction) business as the company looks to...