CCI approves acquisition of Mytrah Energy by JSW Neo Energy
The Competition Commission of India (CCI) has approved the acquisition of the share capital of 18 subsidiaries of Mytrah Energy (India) by JSW Neo Energy under Section 31(1) of the Competition Act, 2002, as per the press release. The proposed combination pertains to the acquisition of the shareholding of 18 subsidiaries of Mytrah Energy through individual share purchase agreements by JSW Neo Energy. Th gives Mytrah Energy an opportunity to acquire an operational, renewable portfolio of 1,753 MW. The acquirer, JSW Neo Energy, is a wholly owned subsidiary of JSW Energy (JEL) and was incorporated as per JEL’s proposed reorganisation of its energy business into grey (thermal) and green (renewable). Currently, JSW Neo Energy is engaged in power generation through renewable sources of energy such as hydro and solar.
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