CCI Clears KKR-Linked Entity’s Investment in Gentari Renewables India
POWER & RENEWABLE ENERGY

CCI Clears KKR-Linked Entity’s Investment in Gentari Renewables India

The Competition Commission of India (CCI) has approved Sapphire US HoldCo’s proposed subscription to certain securities of Gentari Renewables India. Sapphire US HoldCo is an investment vehicle indirectly owned by funds and accounts advised and managed by subsidiaries of global investment firm KKR.

Gentari Renewables India is an indirect wholly owned subsidiary of Malaysian energy company Petronas and belongs to the Petronas group. The company generates power from renewable energy sources and provides battery energy storage solutions in India.

The proposed investment comes as India’s clean energy sector seeks substantial capital for expansion. The country requires $220 bn by 2030 for renewable energy deployment, manufacturing, transmission, energy storage and green hydrogen, according to the secretary of the Ministry of New and Renewable Energy. The government is preparing a roadmap to mobilise the funds over the next four to four-and-a-half years.

About $64 bn flowed into India’s renewable energy sector between July 2024 and June 2026, including $6.2 bn through foreign direct investment. Sapphire US HoldCo is a special purpose vehicle incorporated solely for the proposed transaction, according to the CCI’s release.

Gentari has expanded its renewable energy portfolio in India through acquisitions and partnerships. In March 2025, it acquired a 1.6 GW portfolio of solar and wind assets from Brookfield Asset Management, while in 2023 it was targeting nearly 30 GW of renewable energy capacity by 2030.

The CCI approval clears the proposed securities subscription under India’s competition law framework. However, the regulator has not disclosed the investment amount, the type of securities involved or the stake Sapphire US HoldCo would hold in Gentari Renewables India. The CCI reviews mergers and acquisitions that meet thresholds under the Competition Act, 2002, to determine whether they could adversely affect competition in relevant markets. A detailed order is awaited.

The Competition Commission of India (CCI) has approved Sapphire US HoldCo’s proposed subscription to certain securities of Gentari Renewables India. Sapphire US HoldCo is an investment vehicle indirectly owned by funds and accounts advised and managed by subsidiaries of global investment firm KKR. Gentari Renewables India is an indirect wholly owned subsidiary of Malaysian energy company Petronas and belongs to the Petronas group. The company generates power from renewable energy sources and provides battery energy storage solutions in India. The proposed investment comes as India’s clean energy sector seeks substantial capital for expansion. The country requires $220 bn by 2030 for renewable energy deployment, manufacturing, transmission, energy storage and green hydrogen, according to the secretary of the Ministry of New and Renewable Energy. The government is preparing a roadmap to mobilise the funds over the next four to four-and-a-half years. About $64 bn flowed into India’s renewable energy sector between July 2024 and June 2026, including $6.2 bn through foreign direct investment. Sapphire US HoldCo is a special purpose vehicle incorporated solely for the proposed transaction, according to the CCI’s release. Gentari has expanded its renewable energy portfolio in India through acquisitions and partnerships. In March 2025, it acquired a 1.6 GW portfolio of solar and wind assets from Brookfield Asset Management, while in 2023 it was targeting nearly 30 GW of renewable energy capacity by 2030. The CCI approval clears the proposed securities subscription under India’s competition law framework. However, the regulator has not disclosed the investment amount, the type of securities involved or the stake Sapphire US HoldCo would hold in Gentari Renewables India. The CCI reviews mergers and acquisitions that meet thresholds under the Competition Act, 2002, to determine whether they could adversely affect competition in relevant markets. A detailed order is awaited.

Related Stories

Gold Stories

Next Story
Equipment

BorgWarner secures three turbocharger contracts with global powertrain leader

BorgWarner has secured three new turbocharger contracts with a global powertrain technology company. The wins comprise one contract for its variable turbine geometry (VTG) turbocharger and two for its wastegate turbocharger. The technologies will be deployed in the customer's light-vehicle gasoline platforms in South America and Europe, with production scheduled to begin in 2027.The VTG turbochargers are designed for gasoline engines operating under demanding conditions and high-boost pressure requirements. They are engineered to support Miller-cycle engines and withstand exhaust temperatures ..

Next Story
Infrastructure Transport

International Digi Yatra Trials Begin at Seven Airports

India has begun trials of Digi Yatra for international passengers at seven airports, allowing eligible Indian passport holders to use facial recognition at selected airport checkpoints. The facility is currently limited to Indian nationals with e-passports travelling on selected international flights operated by Air India and IndiGo. The Civil Aviation Ministry announced the trials on 1 November, with testing scheduled through December 2026. A wider rollout is expected in 2027 after the ministry assesses passenger feedback gathered during the trial period, according to PTI. The system is inten..

Next Story
Infrastructure Transport

Air India Plans More Wide-Body Jets, CEO Signals Profitability Soon

Air India is seeking to expand its order for wide-body aircraft as it works to increase international passenger traffic, chief executive Tewolde Gebremariam said on Tuesday. The Tata Group-owned carrier is also targeting a return to profitability in the near term, as its turnaround programme addresses fleet, network and service challenges. The comments came months after Gebremariam took charge of the airline. Gebremariam, who previously led Ethiopian Airlines, said the airline wanted more wide-body aircraft. Air India has held discussions with Boeing and Airbus while assessing the economics of..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code