Ravi Sharma Vs Adani Enterprises Ltd. (Competition Commission of India)
The Competition Commission of India passed an order under Section 26(2) of the Competition Act, 2002, closing the information filed by the Informant alleging anti-competitive conduct and abuse of dominance in the renewable energy sector.
The Informant alleged that certain entities, including renewable energy companies and government agencies, engaged in anti-competitive practices in the award and execution of a solar power project tender issued by a government-backed entity. The tender involved setting up solar power projects linked with solar manufacturing capacity. It was alleged that the tender conditions, including provisions such as the “Green Shoe Option,” were structured to favour large players and restrict participation by smaller entities.
According to the Informant, only a limited number of bidders qualified, and project capacities were ultimately allocated in a manner that allegedly enabled one entity to acquire a disproportionately large share of capacity. It was further alleged that certain bidders reduced tariffs after bidding, provided undertakings, and that project capacities initially awarded to one bidder were subsequently transferred to another. The Informant also raised allegations relating to bid manipulation, exclusion of competitors, capacity hoarding, and leveraging of group-level financial and infrastructure advantages to foreclose competition.
