CCI Greenlights British Investment in ReNew Photovoltaics
The Competition Commission of India approved British International Investment's acquisition of a stake in ReNew Photovoltaics, a solar manufacturing company in India. The investment, worth around USD 100 million, aims to expand ReNew's solar cell and module manufacturing capabilities. This move signifies growing interest in renewable energy in India.
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- India
The Competition Commission of India (CCI) has officially approved British International Investment's proposal to acquire a stake in ReNew Photovoltaics, a prominent solar manufacturing company in India.
Owned by the UK Government, British International Investment plc aims to inject about USD 100 million into ReNew Photovoltaics to boost its solar cell and module production capabilities. The investment underlines the strategic push towards renewable energy in India.
Post-investment, ReNew Photovoltaics plans to construct a new 4 GW TOPCon solar cell facility in Dholera, Gujarat, expanding its total manufacturing capacity significantly. This development is part of a broader effort to meet growing demands for cleaner energy sources amidst global energy transitions.
(With inputs from agencies.)
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