The Competition Commission of India has given the green light to a Canadian pension fund to buy additional shares in Azure Power Global Limited, a major renewable energy company operating in India. The deal involves OMERS Infrastructure Asia Holdings Pte. Ltd., an investment arm of a large Canadian pension plan, acquiring extra shareholding in Azure Power from another investor. The approval was announced on 17 September 2026.
The deal and the parties involved
The buyer is OMERS Infrastructure Asia Holdings Pte. Ltd., which represents OMER Administration Corporation (OAC). OAC manages and holds the funds of the Ontario Municipal Employees Retirement System Primary Pension Plan, commonly known as OMERS. This is one of Canada’s largest pension plans serving over 1,000 participating employers.
The seller is CDPQ Infrastructures Asia Pte. Ltd., which currently holds the additional shareholding being transferred.
Azure Power Global Limited, the target company, heads the Azure group. This Indian company is involved in building renewable energy plants, running their operations, and supplying solar power across India.
The Competition Commission found no competition concerns with the arrangement and issued its approval. A detailed order from the Commission will be released separately.
What this means for you
This approval signals continued foreign investment in India’s renewable energy sector. Canadian institutional investors are backing solar power companies that supply clean electricity to Indian consumers and businesses. The transaction shows confidence in Azure Power’s business model and India’s energy transition plans. Existing and potential customers of Azure Power can expect the company to continue operations without disruption under the new ownership structure.