Competition Commission of India approves major renewable and energy acquisitions

The Competition Commission of India (CCI) has approved two significant acquisitions in the energy sector.

Aditya Birla Renewables Ltd, a unit of Grasim Industries, has received clearance to acquire 100 per cent of Solenergi Power Pvt Ltd from Shell Overseas Investment BV. The deal, valued at approximately Rs 17,200 crore (USD 1.8 billion), includes the Sprng Energy group and is expected to create one of India’s largest integrated renewable energy platforms by adding roughly 5 gigawatt-peak of capacity.

Additionally, the CCI has cleared Adani Energy Solutions Ltd to acquire 100 per cent of the equity share capital of IntelliSmart Infrastructure Private Ltd from the National Investment and Infrastructure Fund (NIIF) and Energy Efficiency Services Ltd (EESL). The Rs 3,050-crore transaction involves IntelliSmart, a company specializing in advanced metering infrastructure for electricity and smart gas meters.