Prior notification of a concentration (Case M.11529 – ABU DHABI FUTURE ENERGY COMPANY / MUFG / TERRA-GEN POWER HOLDINGS II) – Candidate case for simplified procedure
Date: 2024-04-23
Institutions: Directorate-General for Competition, European Commission
Subjects: clean technology, economic concentration, energy industry, energy production, investment company, merger control, provision of services, renewable energy, urbanisation, water management








C_202402885EN.000101.fmx.xml












Official Journal of the European Union


EN
C series













C/2024/2885


23.4.2024






Prior notification of a concentration
(Case M.11529 – ABU DHABI FUTURE ENERGY COMPANY / MUFG / TERRA-GEN POWER HOLDINGS II)
Candidate case for simplified procedure
(Text with EEA relevance)
(C/2024/2885)


1.   
On 15 April 2024, the Commission received notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1).
This notification concerns the following undertakings:






—


Abu Dhabi Future Energy Company PJSC (‘ADFEC’, United Arab Emirates), controlled by Abu Dhabi Development Holding Company PJSC (United Arab Emirates),










—


First Sentier Investors (US) Infrastructure GP LLC (‘FSI’, United States), controlled by Mitsubishi UFJ Financial Group, Inc. (‘MUFG’, Japan),










—


Terra-Gen Power Holdings II, LLC (‘Terra-Gen’, United States), jointly controlled by FSI and Energy Capital Partners (United States).




ADFEC and FSI will acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control of Terra-Gen.
The concentration is accomplished by way of purchase of shares.


2.   
The business activities of the undertakings concerned are the following:






—


ADFEC is a renewable energy and sustainability company that supplies solutions in energy, water, urban development, and clean technologies worldwide,










—


FSI is a global asset management group with a diverse client base and operations spanning Australia, Asia, Europe, and North America,










—


Terra-Gen is an integrated and independent renewable energy power producer active in the United States.






3.   
On preliminary examination, the Commission finds that the notified transaction could fall within the scope of the Merger Regulation. However, the final decision on this point is reserved.
Pursuant to the Commission Notice on a simplified treatment for certain concentrations under Council Regulation (EC) No 139/2004 on the control of concentrations between undertakings (2) it should be noted that this case is a candidate for treatment under the procedure set out in the Notice.


4.   
The Commission invites interested third parties to submit their possible observations on the proposed operation to the Commission.
Observations must reach the Commission not later than 10 days following the date of this publication. The following reference should always be specified:
M.11529 – ABU DHABI FUTURE ENERGY COMPANY / MUFG / TERRA-GEN POWER HOLDINGS II
Observations can be sent to the Commission by email or by post. Please use the contact details below:
Email: COMP-MERGER-REGISTRY@ec.europa.eu

Postal address:





European Commission




Directorate-General for Competition




Merger Registry




1049 Bruxelles/Brussel




BELGIQUE/BELGIË







(1)  
            OJ L 24, 29.1.2004, p. 1 (the ‘Merger Regulation’).

(2)  
            OJ C 160, 5.5.2023, p. 1.


ELI: http://data.europa.eu/eli/C/2024/2885/oj
ISSN 1977-091X (electronic edition)