Latest News | Greenko Energies Gets CCI Nod to Acquire Additional Stake in Sikkim Urja

New Delhi, May 7 (PTI) The Competition Commission of India (CCI) on Tuesday said it has cleared Greenko Energies' proposed acquisition of an additional stake in Sikkim Urja (formerly Teesta Urja Ltd).

Greenko Energies Pvt Ltd (GEPL) is a part of Greenko Energy Holdings (GEH). The latter is the holding company of the Greenko group of companies.

Also Read | What Is West Nile Fever? As Cases Reported in Kerala, Know All About Symptoms, Causes and Treatment for West Nile Virus Infection.

The proposed combination relates to the acquisition of additional shares in the Sikkim Urja Ltd (formerly Teesta Urja Ltd) by Greenko Energies Pvt Ltd (GEPL), CCI said.

Sikkim Urja Ltd is a special purpose vehicle incorporated for the purpose of the implementation of the 1,200 megawatt hydropower project in North Sikkim.

Also Read | NEET Exam 2024: NTA Holds NEET UG Undergraduate Medical Entrance Exam Today, Check Dress Code Guidelines, Reporting Time, List of Prohibited Items and Other Important Instructions.

"Commission approves acquisition of additional shares in Sikkim Urja Ltd by Greenko Energies Pvt Ltd," CCI said in a post on X (formerly Twitter).

GEH is an investment holding company, having its investments in a portfolio of companies engaged in the power generation sector in India.

The deals beyond a certain threshold require approval from the regulator, which keeps a tab on unfair business practices as well as promotes fair competition in the marketplace.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)