Business · India Bureau
KKR wins CCI approval for Gentari Renewables India stake acquisition
The Competition Commission of India has cleared KKR's investment in Gentari Renewables India, the renewable energy platform of Malaysia's PETRONAS. The deal, valued at approximately Rs 6,000 crore, marks a significant boost for clean energy infrastructure in India.
LSN India ·
Global investment firm KKR has secured regulatory clearance from India's competition watchdog to acquire a substantial stake in Gentari Renewables India, the clean energy arm of Malaysian energy giant PETRONAS. The CCI approved the transaction on Tuesday, paving the way for KKR's affiliate Sapphire US HoldCo (USA), LLC to subscribe to securities in Gentari Renewables India Pte Ltd.
Gentari Renewables India operates as an indirect wholly-owned subsidiary of Petroliam Nasional Berhad and provides power generation through renewable energy sources and battery energy storage solutions across India. The investment underscores the growing appetite among international capital for India's energy transition infrastructure as the country accelerates its renewable capacity expansion.
The transaction, originally announced in October, represents a major strategic entry for KKR into India's renewable energy sector. The approximately Rs 6,000 crore investment reflects confidence in the sector's long-term growth potential and PETRONAS's commitment to expanding its clean energy footprint in one of the world's fastest-growing energy markets.
The CCI's approval removes a key regulatory hurdle for the deal, enabling KKR to proceed with its planned capital deployment. This investment adds to KKR's expanding portfolio in India's infrastructure and energy sectors, reinforcing the firm's position as a major player in the region's energy transition narrative.