Greenko Energies gets CCI nod to acquire additional stake in Sikkim Urja
Agencies
Synopsis
CCI approved Greenko Energies' additional stake acquisition in Sikkim Urja Ltd, a special purpose vehicle for a 1,200 MW hydropower project in North Sikkim. The acquisition was part of promoting fair competition in the marketplace.
By PTI
Last Updated:
New Delhi: The Competition Commission of India (CCI) on Tuesday said it has cleared Greenko Energies' proposed acquisition of an additional stake in Sikkim Urja (formerly Teesta Urja Ltd). Greenko Energies Pvt Ltd (GEPL) is a part of Greenko Energy Holdings (GEH). The latter is the holding company of the Greenko group of companies.
Sikkim Urja Ltd is a special purpose vehicle incorporated for the purpose of the implementation of the 1,200 megawatt hydropower project in North Sikkim.
"Commission approves acquisition of additional shares in Sikkim Urja Ltd by Greenko Energies Pvt Ltd," CCI said in a post on X (formerly Twitter).
GEH is an investment holding company, having its investments in a portfolio of companies engaged in the power generation sector in India.
The deals beyond a certain threshold require approval from the regulator, which keeps a tab on unfair business practices as well as promotes fair competition in the marketplace.
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The proposed combination relates to the acquisition of additional shares in the Sikkim Urja Ltd (formerly Teesta Urja Ltd) by Greenko Energies Pvt Ltd (GEPL), CCI said. Sikkim Urja Ltd is a special purpose vehicle incorporated for the purpose of the implementation of the 1,200 megawatt hydropower project in North Sikkim.
"Commission approves acquisition of additional shares in Sikkim Urja Ltd by Greenko Energies Pvt Ltd," CCI said in a post on X (formerly Twitter).
GEH is an investment holding company, having its investments in a portfolio of companies engaged in the power generation sector in India.
The deals beyond a certain threshold require approval from the regulator, which keeps a tab on unfair business practices as well as promotes fair competition in the marketplace.
(You can now subscribe to our Economic Times WhatsApp channel)
