Commission recommends approval of Engie's buyout of Xina CSP

18th December 2020

By: Creamer Media Reporter

     

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The Competition Commission has recommended that the Competition Tribunal approve the proposed transaction whereby Engie intends to acquire Xina Concentrated Solar Power (CSP) and Xina CSP Operations & Maintenance (O&M), without conditions.

In South Africa, the Engie Group supplies a mix of renewable energies. Its energy projects in South Africa include the Aurora Wind Power Project.

The Xina Solar One Project, controlled by Xina CSP, is a CSP plant in the Northern Cape.

Xina CSP O&M operates and maintains the Xina Solar One plant.

The commission found that the proposed transaction is unlikely to result in a substantial prevention or lessening of competition in any relevant markets.

It further found that the proposed transaction does not raise any public interest concerns.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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