The Competition Commission of India announced it has approved Gentari Renewables India’s acquisition of 21 special purpose vehicles (SPVs), owning renewable power generation plants, and the holding companies of certain SPVs.
Gentari Renewables India (the acquirer) is an indirect subsidiary of Petroliam Nasional Berhad (Petronas), a Malaysian multinational oil and gas company. It is focused on delivering clean energy solutions such as renewable energy, hydrogen and green mobility.
The entities being acquired are engaged in the business of generation and sale of power through wind turbine and solar power plant.
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