CCI Approves British International Investment’s Stake in ReNew Photovoltaics

The Competition Commission of India (CCI) has approved British International Investment’s (BII) proposal to acquire a stake in ReNew Photovoltaics Pvt Ltd, a solar manufacturing subsidiary of ReNew Energy Global. BII, a UK government-owned development finance institution, will invest ₹870 crore (approximately USD 100 million) to support the growth of solar manufacturing in India. ReNew Photovoltaics currently operates a 6.4 GW solar module facility and a 2.5 GW cell facility in Jaipur and Dholera. The investment will help fund a new 4 GW TOPCon solar cell facility in Dholera, expanding total cell capacity to 6.4 GW. The deal is part of ReNew’s strategy to boost domestic solar manufacturing and reduce import dependence. CCI’s clearance affirms compliance with competition norms for large investments. The move aligns with India's renewable energy goals and supports its push for self-reliance in green technology manufacturing.