Business News/ Industry / Energy/  CCI approves acquisition of share capital of 18 subsidiaries of Mytrah Energy by JSW Energy

NEW DELHI : The Competition Commission of India (CCI) on Thursday said it has approved acquisition of of the share capital of eighteen subsidiaries of Mytrah Energy (India) Pvt. Ltd by JSW Neo Energy, a subsidiary of JSW Energy Ltd.

The proposed combination pertains to acquisition of shareholding of 18 (eighteen) subsidiaries (Targets) of Mytrah Energy (India) Private Limited (Mytrah) through individual share purchase agreements by JSW Neo Energy Limited (Acquirer) (Proposed Combination), the Competition Commission of India said in a statement.

The Proposed Combination presents an opportunity to the Acquirer to acquire an operational renewable portfolio of 1,753 MW, it added.

The Acquirer is a wholly owned subsidiary of JSW Energy Limited (“JEL") and was incorporated as per JEL’s proposed reorganisation of its energy business into grey (thermal) and green (renewable). 

Currently, the Acquirer is engaged in power generation through renewable sources of energy such as hydro and solar.

The targets are subsidiaries of Mytrah and are engaged in power generation through renewable sources of energy, viz., wind and solar.

Catch all the Industry News, Banking News and Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Updated: 29 Sep 2022, 07:55 PM IST
Recommended For You
Get alerts on WhatsApp
Set Preferences My Reads Watchlist Feedback Redeem a Gift Card Logout