The Competition Commission of India (CCI) on Thursday approved the acquisition of 18 subsidiaries of Mytrah Energy by JSW Neo Energy Ltd. The proposed combination envisages the acquisition of shareholding of 18 subsidiaries of Mytrah Energy (India) Pvt Ltd (Mytrah) through individual share purchase agreements by JSW Neo Energy Ltd, according to an official release on September 29.

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The combination presents an opportunity to JSW Neo Energy to acquire an operational renewable portfolio of 1,753 MW. In August, JSW Neo Energy, a wholly-owned subsidiary of JSW Energy, announced that it has agreed to acquire a portfolio of 1,753 MW of renewable energy generation capacity comprising 17 SPVs and one ancillary SPV from Mytrah Energy (India) Pvt Ltd for Rs 10,530 crore.

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JSW Neo Energy is a wholly-owned subsidiary of JSW Energy Limited and is engaged in power generation through renewable sources such as hydro and solar, while the 18 subsidiaries of Mytrah Energy (India) Pvt Ltd are engaged in power generation through wind and solar. Deals beyond certain thresholds require approval from CCI which keeps a tab on anti-competitive practices.