CCI Clears IFC, ADB, DEG Stake Acquisition in Fourth Partner Energy
ECONOMY & POLICY

CCI Clears IFC, ADB, DEG Stake Acquisition in Fourth Partner Energy

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. 

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. 

Next Story
Infrastructure Energy

Mizoram To Build Rs 139 Billion Pumped Storage Power Plant

Mizoram Chief Minister Lalduhoma on Friday announced plans to construct a 2,400 MW pumped storage hydroelectric power plant in Hnahthial district, marking a major step towards achieving energy self-sufficiency in the state. Addressing the Mizo Students’ Union general conference in Hnahthial town, the Chief Minister said the plant would be developed across the Darzo Nallah, a tributary of the Tuipui river. Once operational, the project is expected to play a pivotal role in meeting Mizoram’s rising electricity demand and reducing dependence on imported power. Officials from the State Power..

Next Story
Infrastructure Energy

Centre Plans Nationwide Opening Of Power Retail Market

India is preparing to open up its retail electricity market to private companies nationwide, effectively ending the long-standing monopoly of state-run power distributors in most regions, according to a draft bill released by the Union Power Ministry on Friday. The move will enable major private sector players — including Adani Enterprises, Tata Power, Torrent Power, and CESC — to expand their presence across the country’s electricity distribution landscape. A similar reform attempt in 2022 had faced strong opposition from state-run distribution companies (discoms), which currently dom..

Next Story
Infrastructure Energy

CEA Sets 100 GW Nuclear Target For India By 2047

In a landmark step marking its 52nd Foundation Day, the Central Electricity Authority (CEA) unveiled an ambitious roadmap to develop 100 gigawatts (GW) of nuclear power capacity by 2047, aligning with India’s long-term Net-Zero commitment and energy security objectives. The event, held at the Central Water Commission auditorium in New Delhi’s R.K. Puram, was attended by Pankaj Agarwal, Secretary, Ministry of Power, who served as the Chief Guest. The roadmap sets out a detailed plan to expand India’s nuclear capacity from its current level of approximately 8,180 MW as of early 2025, outl..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?