CCI Approves Acquisition of 21 Renewable Energy SPVs by Gentari Renewables India

The Competition Commission of India (CCI) has granted approval for Gentari Renewables India Pte. Ltd. to acquire 21 Special Purpose Vehicles (SPVs) that own renewable power generation plants, along with the holding companies of certain SPVs.

The transaction involves the acquisition of these SPVs, which are primarily engaged in the generation and sale of power from wind turbines and solar power plants. Gentari Renewables India Pte. Ltd., an indirect subsidiary of Malaysia’s Petroliam Nasional Berhad (Petronas), is a company focused on providing sustainable energy solutions, with core pillars in Renewable Energy, Hydrogen, and Green Mobility.

Strategic Expansion in Clean Energy

This acquisition aligns with Gentari Renewables’ strategy to expand its footprint in the Indian renewable energy sector. With this deal, the company will enhance its presence in the wind and solar power sectors, contributing to India’s growing demand for clean energy and its climate goals.

Growth of Renewable Energy in India

India, one of the fastest-growing economies, is increasingly focusing on renewable energy as part of its sustainable development efforts. The country has set ambitious targets to increase its renewable energy capacity, with a significant emphasis on solar and wind energy. The approval of this acquisition is expected to aid in the achievement of these targets and further bolster the country’s clean energy transition.

About Gentari and its Clean Energy Vision

Gentari Renewables India Pte. Ltd. is committed to providing innovative and reliable clean energy solutions, focusing on wind, solar, and green hydrogen initiatives. The company’s parent, Petronas, has a long history of operations in the energy sector and is progressively transitioning to more sustainable energy sources as part of its commitment to global sustainability goals.

The acquisition of these SPVs marks a significant step in Gentari’s expansion within the Indian market and its broader commitment to supporting the global energy transition toward a cleaner and more sustainable future.