CCI Clears Gentari Renewables' Acquisition of 21 Special Purpose Vehicles

09 Jan 2025 CW Team

The Competition Commission of India (CCI) approved the proposal by US-based global investment firm Carlyle to acquire a 68.9 per cent stake in Roop Automotives (RAL). The regulator explained that the proposed transaction includes several interconnected steps, including a securities swap between Highway Industries (HIL) shareholders and RAL, ultimately leading to the acquisition of up to 68.9 per cent of RAL's shareholding by the investor.

CA Carob Investments, the Mauritius-based special-purpose vehicle (SPV), is controlled by affiliates of the Carlyle Group. As of September 30, 2024, Carlyle manages assets worth $447 billion.

Both RAL and HIL are involved in the manufacturing and sale of auto components. The CCI confirmed the approval of the proposed combination, which involves interconnected steps, including the acquisition of a 68.9 per cent stake in RAL by CA Carob Investments.

In a separate release, CCI also cleared Gentari Renewables India 's proposed acquisition of 21 special purpose vehicles (SPVs), which own renewable power generation plants and holding companies of other SPVs. Gentari Renewables India, an indirect subsidiary of Petroliam Nasional Berhad, focuses on providing clean energy solutions, including renewable energy, hydrogen, and green mobility.

The SPVs involved in the deal are engaged in power generation and sales through wind turbines and solar power plants. These transactions, which exceed certain thresholds, require approval from the CCI, which monitors business practices to ensure fair competition in the market.

Infrastructure Energy

17 Dec 2025

Vedanta Aluminium Uses 1.57 bn Units of Green Energy in FY25

Vedanta Aluminium, India’s largest aluminium producer, recently reported consumption of 1.57 billion units of renewable energy in FY25, marking a significant milestone in its 2030 decarbonisation roadmap. The company also achieved an 8.96 per cent reduction in greenhouse gas (GHG) emissions intensity compared to FY21, reinforcing its leadership in India’s low-carbon manufacturing transition. During FY25, Vedanta Aluminium expanded its renewable energy portfolio through long-term power purchase agreements, strengthening its strategy to source nearly 1,500 MW of renewable power over the lon..

Oberoi Group to Develop Luxury Resort at Makaibari Tea Estate

EIH Limited, the flagship company of The Oberoi Group, has announced the signing of a management agreement to develop an Oberoi luxury resort at the iconic Makaibari Tea Estate in Darjeeling. The project marks a key milestone in the Group’s long-term strategy of creating distinctive hospitality experiences in rare and environmentally significant locations. Established in 1859, Makaibari is one of the world’s oldest tea estates and is globally recognised for its Himalayan landscape, primary forests and exceptional biodiversity. Spread across 1,236 acres, the estate houses one of the world�..

GHV Infra Secures Rs 1.09 Bn EPC Order in Jamshedpur

GHV Infra Projects Ltd, a fast-growing EPC company in India’s infrastructure and construction sector, has recently secured a Rs 1.09 billion work order in Jamshedpur, Jharkhand. Awarded by a reputed group entity, the contract covers end-to-end civil construction, mechanical, electrical and plumbing (MEP) systems, along with high-quality finishing works for a large building development. The project will be executed over a 30-month period, with defined benchmarks for quality, safety and timely delivery. The order strengthens GHV Infra’s footprint in Jamshedpur, a key industrial hub known fo..