The Competition Commission of India (CCI) has granted approval for the acquisition of additional shareholding in Azure Power Global Limited by OMERS Infrastructure Asia Holdings Pte. Ltd. The proposed combination involves OMERS Infrastructure acquiring certain additional shares in Azure Power Global from CDPQ Infrastructures Asia Pte. Ltd.
OMERS Infrastructure Asia Holdings Pte. Ltd. is an investment entity of OMER Administration Corporation, which serves as the administrator of the Ontario Municipal Employees Retirement System (OMERS) Primary Pension Plan. OMERS is described as one of Canada's largest multi-employer defined benefit pension plans with participation from over 1,000 employers.
Azure Power Global Limited functions as the parent entity of the Azure group, which is engaged in establishing renewable energy plants, operating these facilities, and selling solar power within India. The CCI noted that a detailed order regarding this approval will follow this initial announcement.