The Competition Commission of India (CCI) has approved acquisition of certain additional shareholding in Azure Power Global Limited by OMERS Infrastructure Asia Holdings Pte. Ltd.

The Proposed Combination envisages acquisition of certain additional shareholding in Azure Power Global Limited (Target) by OMERS Infrastructure Asia Holdings Pte. Ltd. (Acquirer) from CDPQ Infrastructures Asia Pte. Ltd.

The Acquirer is an investment entity of OMER Administration Corporation (OAC). OAC is the administrator of Ontario Municipal Employees Retirement System Primary Pension Plan (OMERS) and trustee of pension funds. OMERS is one of Canada’s largest multi-employers defined benefit pension plans with over 1,000 participating employers.

The Target is the parent entity of Azure group, which is engaged in setting up renewable energy plants, operating them and selling solar power in India.

Detailed order of the Commission will follow.

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SR/ONP

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