The Competition Commission of India (CCI) has approved the proposal for the World Bank’s International Finance Corporation (IFC), the Asian Development Bank (ADB), and Germany's DEG to acquire a stake in Fourth Partner Energy (FPE).

The IFC is a major global development institution focused on the private sector in emerging markets. Fourth Partner Energy is a leading renewable energy company in India, specialising in the construction and financing of renewable energy projects.

In August, IFC, ADB, and DEG announced a joint investment of USD 275 million into FPE, which will support the company's plans to expand its renewable energy portfolio to 3.5 GW by 2026.

DEG focuses on financing private enterprises in developing countries, aiming to drive job creation and economic growth. The investment will provide capital for FPE’s business expansion and renewable energy projects across India.

In a separate decision, CCI also approved Mars Inc’s acquisition of all outstanding equity shares of Kellanova, a global leader in snacking and cereals.