The Competition Commission of India (CCI) has approved the formation of Joint Venture between Adani Green Energy Limited and Total S.A. in the business of power generation through solar energy in India.
"The proposed combination envisages Adani Green Energy Limited transferring certain of its subsidiaries to a newly incorporated company (JV). Subsequently, Total S.A. would directly or indirectly acquire 50% of the equity share capital of the JV," an official statement said.
Total S.A. is the ultimate parent entity of the Total Group. The Target Companies are active in the business of power generation through solar energy in India, the statement added.