The Competition Commission of India has approved the acquisition of additional shares in Sikkim Urja Limited by Greenko Energies. This move is for implementing a 1200 MW hydro power project in North Sikkim.
The Competition Commission of India (CCI) has approved the acquisition of additional shares in Sikkim Urja Limited (formerly Teesta Urja Limited) by Greenko Energies Private Limited, according to a release by the commission.
✔️ Greenko Energies is a limited liability company incorporated in India. It is an (indirectly) wholly-owned subsidiary of Greenko Mauritius. Greenko Mauritius is wholly owned by Greenko Energy Holdings, a company incorporated in Mauritius, which is the holding company of the Greenko group of companies.
Greenko Energy Holdings is an investment holding company, having its investments in a portfolio of companies engaged in the power generation sector in India.
✔️ Sikkim Urja is a special purpose vehicle incorporated for the purpose of the implementation of the 1200 Mega Watt (MW) (6 Units of 200 MW each) hydropower project in North Sikkim, India.
The approval from CCI provides the opportunity for Greenko Energies to enhance its stake in Sikkim Urja, thereby potentially strengthening its presence and influence in the renewable energy sector in India.
Source: The Print
