CCI clears acquisition of solar energy assets by Adani Green-Total Solar joint venture

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October 13, 2020 9:01 PM

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.

The imposition of anti-dumping duty in 2018 was also met with a lot of criticism.With the decline in battery prices, this story is now coming to pass. For example, 19GW of solar PV projects with storage are under construction in the US.

Competition Commission of India (CCI) 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 per cent 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 per cent of the share capital of Adani Green Energy Ten Ltd (AGE10L), which is the holding entity of the target companies.

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