The notice filed by the Competitive Commission (CCI) on May 7 said, “The acquisition of British International Investment (British International Investment) in the target (renovation Photovoltics Private) by membership of the target’s security.
The renovation photovoltics is involved in the production of solar modules and cells in India.
The parties have explained that their respective businesses in India do not directly cover horizontal or vertical cover. However, some BII portfolio companies are active in the solar energy sector of the country.
The parties have presented that the impact of the proposed combination will not have any commendable adverse effects on India’s competition.
To help the CCI in the proposed combination review, the parties said that the relevant markets may include the upstream department for the production of solar modules and solar cells and the downstream department for the production and broadcast of solar energy in India. Earlier this month, the renewal Energy Global PLC announced that he had invested Rs 870 crore (about $ 100 million) from British International Investment to accelerate the growth of solar production business in India. The investment will be made in the renewal photovoltics of the company’s dedicated solar production assistant company.
Established in 2, an operational to renew in Photovaltics .4..4 GW solar PV module facility and Jaipur, Rajasthan and Dholera, Gujarat. G GW is a solar cell facility.
BII investments will be mainly used to increase business and the company’s production capacity will be expanded by the construction of a new 4GW Topcon cell facility in Dholera, Gujarat. After the extension, the total production capacity of the renewal will be approximately 6.4 GW modules and 6.4 GW cells.
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