Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE  
Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel,   BELGIË  
 
Tel: +32 229 -91111. Fax: +32 229 -64301. E -mail: COMP -MERGER -REGISTRY@ec.europa.eu . 
  EUROPEAN COMMISSION  
Brussels, 28.10.2020  
C(2020 ) 7587 final  
PUBLIC VERSION  
To the notifying parties  
Subject : Case M. 9940  – AAUK2 / MUL / BALLYHOURA WIND / CCWFL  
Commission decision pursuant to Article 6(1)(b) of Council Regulation 
(EC) No 139/20041 and Article 57 of the Agreement on the European 
Economic Area2  
Dear Sir or Madam,  
1. On 5 October 2020 , the European Commission received notification of a proposed 
concentration pursuant to Article 4 of the Merger  Regulation by which the 
undertakings Arjun Alliance UK 2 LP (“AAUK2” United Kingdom), ultimat ely 
controlled by AIP Holdings Limited  and Mitsubishi UFJ Lease & Finance Company 
Limited (“MUL”, Japan) , acquire within the meaning of Article 3(1)(b) of the Merger 
Regulation joint control over the whole of the undertaking Ballyhoura Wind Limited 
(“Ballyhoura Wind”, Ireland) and CCWFL Limited (“CCWFL ”, Ireland ) by way of 
purchase of shares .3 
2. The business activities of the undertakings concerned are:  
 for AAUK2 : a limited partnership established in April 202 0, ultimately controlled 
by AIP Holdings, an independent infrastructure asset management business 
focusing on partnerships with institutional investors to access direct infrastructure 
investments within the industries of regulated utilities, energy and ren ewables, 
and transportation , 
 for MUL : a multi-service group based in Japan, with activities related to leasing 
and finance, rental, used equipment trading, sales support financing, asset 
management services, consulting services, aviation, real estate, logistics, 
environment and energy, healthcare and infrastructure and investment , 
                                                 
1 OJ L 24, 29.1.2004, p. 1 ( the ‘Merger Regulation ’). With effect from 1 December 2009,  the Treaty on 
the Functioning of the European Union ( ‘TFEU ’) has introduced certain changes, such as the 
replacement of ‘Community ’ by ‘Union ’ and ‘common market ’ by ‘internal market ’. The terminology 
of the TFEU will be used throughout this decision.  
2  OJ L 1, 3.1.1994, p . 3 (the ‘EEA Agreement ’). 
3  Publication in the Official Journal of the European Union No C 338, 12.10 .2020 , p. 9. 

2  for Ballyhoura Wind : holds the onshore Ballyhoura Wind wind farm located in 
County Cork, Ireland,  
 for CCWFL : holds the onshore Slievecallan  wind farm located in County Clare, 
Ireland . 
3. After examination of the notification, the European Commission has concluded that 
the notified operation falls within the scope of the Merger  Regulation  and of 
paragraph 5(b) of the Commission Notice on a simpli fied procedure for treatment of 
certain concentrations under Council Regulation (EC) No 139/2004 .4 
4. For the reasons set out in the Notice on a simplified procedure, the European 
Commission has decided not to oppose the notified operation and to declare it 
compatible with the internal market and with the EEA Agreement. This decision is 
adopted in application of Article 6(1)(b) of the Merger  Regulation  and Article 57 of 
the EEA Agreement . 
For the Commission  
 
 
(Signed)  
Olivier GUERSENT  
Director -General  
                                                 
4  OJ C 366, 14.12.2013, p. 5 .