The Competition Commission of India (CCI) has approved acquisition of shareholding in Sterling and Wilson Renewable Energy Limited (SWREL) by Reliance New Energy Solar Limited (RNESL). 

 

The proposed combination envisages acquisition of 40% of the equity share capital of SWREL by RNESL however acquisition can go up to 51.07% of equity share capital of SWREL in the eventuality of full acceptance of the open offer.

 

RNESL is a wholly owned subsidiary of Reliance Industries Limited (RIL), which is the ultimate holding company for entities belonging to the RIL group. RNESL is a newly incorporated entity and does not offer any products or services in India. 

 

SWREL is a global pure-play, end to end solar engineering, procurement and construction (EPC) solutions provider in India and over 25 countries globally. In India, SWREL is engaged in provision of solar EPC solutions and operation and maintenance services, including for projects constructed by third parties.