Chinese company CRE gains control of UEP Wind Power Pakistan

Islamabad: The Competition Commission of Pakistan (CCP) has granted approval for the acquisition of M/s. Super Success Investments Limited (SSIL) by Chinese company M/s. CRE International Co., Limited. With the acquisition of SSIL, CRE indirectly gains control of UEP Wind Power Pakistan.

China-based M/s CNNP Rich Energy Co Ltd strategically invests in Pakistan’s renewable energy sector via its wholly-owned subsidiary, M/s CRE International Co Ltd.

The Competition Commission of Pakistan (CCP) has granted approval for M/s CRE International Co Ltd to acquire M/s Super Success Investments Ltd (SSIL), said an official statement issued here on Sunday.

CRE, a Hong Kong-based wholly-owned subsidiary of CNNP Rich Energy Co Ltd, successfully concluded the acquisition.

SSIL, headquartered in Mauritius, possesses a 100 percent share in M/s UEP Wind Power (Private) Limited, a company managing a 99 MW wind-powered electric generation facility in Pakistan.

The CCP conducted a thorough review of the merger documentation and, as the transaction doesn’t result in the acquirer’s dominance in the relevant market, has granted approval for the merger.

This transaction highlights the growing interest of foreign investors in Pakistan’s renewable energy sector, showcasing substantial foreign investment and signalling potential collaborative advancements in the renewable energy domain.