Competition Commission Clears Acquisition Of Solar Energy Assets By Adani Green-Total Solar Joint Venture
Competition Commission of India has approved the acquisition of various solar energy assets by a joint venture of Adani Energy and Total Solar.
Adani Green Energy Twenty Three Ltd. -- a joint venture of Total Solar Singapore Pte Ltd. and Adani Green Energy Ltd. -- will buy the assets from Adani Green Energy Ltd.
According to a combination notice filed with the watchdog, Adani Green Energy Twenty Three Ltd. will acquire 100 % shareholding of ten target companies.
Adani Green Energy Ten Ltd. is the holding entity of the target companies.
In a tweet on Tuesday, CCI said it has approved "acquisition of solar energy generation assets by Adani Green Energy Twenty Three Ltd. - a joint venture of Total Solar Singapore Pte. Ltd. & Adani Green Energy Limited".
Pursuant to the proposed combination, AGE23L will acquire 100% of the share capital of Adani Green Energy Ten Ltd., which is the holding entity of the target companies.