The Competition Commission of India (CCI) has approved a major acquisition deals involving International Finance Corporation (IFC), Asian Development Bank (ADB), and Germany’s DEG acquiring a stake in Fourth Partner Energy Private Limited (FPEL). FPEL, a prominent renewable energy company, focuses on developing and financing renewable energy projects.
In August 2024, the consortium of IFC, ADB, and DEG announced an investment of $275 million to support the business expansion of FPEL. The company aims to achieve a portfolio of 3.5 GW of renewable energy assets by 2026. DEG, with a development policy mandate, finances and advises private enterprises investing in developing countries, fostering employment and income generation.
