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CCI approves acquisition of Odisha Power Generation Corpn by OHPC

Tuesday, 08 Dec 2020
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The Competition Commission of India (CCI) has approved acquisition of shares of the Odisha Power Generation Corporation (OPGC) by the Odisha Hydro Power Corporation (OHPC) under Section 31(1) of the Competition Act 2002. 
 
OHPC is a PSU wholly-owned and controlled by the government of Odisha. It is engaged in the business of generation of power from renewable sources, hydroelectric and solar power. 
 
OPGC is a state-owned joint venture enterprise with state government holding 51 percent shareholding and the remaining 49 percent shareholding by AES Corporation, US, through AES OPGC and AES India. 
 
It is engaged in the business of generation of power from coal-based thermal power plants as well as mini hydro power projects. 
 
The proposed combination involves acquisition by OHPC of 49 percent equity shares in OPGC from AES OPGC and AES India, pursuant to the share sale and purchase agreement.

 

 
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