CDPQ increases stake in power company
Singapore’s Quebec origin CDPQ Infrastructures Asia II Pte Ltd has received approval for its acquisition of stake in Apraava Energy Private Limited, a foreign investment in the Indian power sector with an investment spread across renewable energy (including wind and solar), transmission, supercritical coal and gas fired generation.
The Proposed Combination pertains to the acquiring an additional 10% shareholding in the Apraava from CPL GPEC (Mauritius) Holding Limited.
CDPQ, which presently holds 40% shareholding in Apraava, is a direct and wholly-owned subsidiary of Caisse de dépôt et placement du Québec, a long-term institutional investor with net assets of approximately C$420 billion invested globally that manages funds primarily for public and para-public pension and insurance plans.
Apraava entered the Indian market in 2002 and has since expanded its portfolio of operating conventional and renewable assets.
The Competition Commission of India (CCI) approved the acquisition on 5 Sept 2022 under Section 31(1) of the Competition Act, 2002. fiinews.com
