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The Competition Commission of India (CCI) has approved Adani Power’s proposed acquisition of Diliigent Power Private Limited (Diliigent Power) and DB Power Limited (DB Power). Both Diliigent Power and DB Power are collectively referred to as “targets” of the combination.
The proposed combination involves the 100 per cent acquisition of share capital and economic rights of the targets by the acquirer (Adani Power).
Diliigent Power is primarily engaged in the activities of a holding company. It also provides project management and consultancy services, limited to DB Power. DB Power operates a coal based thermal power plant with an installed capacity of 1200 MW per hour in Chhattisgarh.
JSW Neo Energy-Mytrah Energy deal
The CCI also approved the acquisition of the share capital of 18 subsidiaries of Mytrah Energy (India) Private Limited (Mytrah Energy) by JSW Neo Energy Limited (JSW Neo Energy).
The proposed combination presents an opportunity to the acquirer to acquire an operational renewable portfolio of 1,753 MW. JSW Neo Energy Limited 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, namely wind and solar.
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