ISLAMABAD: China based M/s. CNNP Rich Energy Co. Ltd. strategically invested in Pakistan’s renewable energy sector through its entirely owned subsidiary M/s. CRE International Co., Limited.
The Competition Commission of Pakistan (CCP) has accorded approval to the acquisition of M/s. Super Success Investments Limited by M/s. CRE International Co., Limited.
CRE is the entirely owned subsidiary of CNNP Rich Energy Co. Limited located in Honk Kong. Whereas M/s. Super Success Investments Limited is based in Mauritius.
SSIL owns 100% shareholding of M/s. UEP Wind Power (Private) Limited, a private company operating and maintaining a ninety-nine MW wind-powered electric generation facility in Pakistan. CRE has acquired SSIL and thus indirectly took the charge of UEP Wind Power Pakistan.
CCP conducted a comprehensive review of the documentation of merger. Given that the transaction did not result in the dominance of the acquirer in the relevant market, the CCP has granted approval for the merger.
This transaction is a testament to the increasing interest of foreign investors in the renewable energy field in Pakistan.
Potential in Pakistan’s renewable energy sector
While the transaction indirectly reflects a remarkable foreign investment in Pakistan’s energy landscape, it also highlights the potential for collaborative advancements in the renewable energy domain.
