The Indian Competition Authority unconditionally approves a merger between two solar renewable energy companies (Reliance Solar / Sterling and Wilson solar)

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Indian Competition Authority, Reliance solar / Sterling and Wilson Solar , Merger decision, 15 December 2021

Reliance New Energy Solar Limited (“Reliance Solar / Acquirer”), a wholly owned subsidiary of Reliance Industries Limited (“RIL”), a newly incorporated entity and does not offer any products or services in India. Recently it has announced the acquisition of a stake in REC Solar, which is engaged in manufacturing of photovoltaic modules. Sterling and Wilson Renewable Energy Limited (“Sterling

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