The Competition Commission of India (CCI) has approved the proposed merger of the renewable energy business of Gujarat-based solar components manufacturer Vishakha Renewables (VRPL) with its solar glass manufacturing division, Vishakha Glass.

The proposed restructuring entails the transfer and vesting of VRPL’s pipes and moldings divisions to Progressive Pipes (PPPL) on a slump sale basis.

Additionally, VRPL had proposed merging its solar panel component division, Vishakha Renewables 1; its aluminum frame manufacturing division for solar panels, Vishakha Metals; and its metal components manufacturing division, Vishakha Metals 1, into VRPL.

VRPL is engaged in manufacturing solar system components, such as high-grade, potential-induced degradation-resistant ethylene-vinyl acetate, encapsulants, and backsheets.

At the Mercom India Summit 2025, Vishakha Group’s Ajay Shah said that while India produces about 12 GW of solar glass annually, demand already exceeds 25 GW and is growing. Vishakha also plans to triple its glass manufacturing capacity by 2026, he said.

In March, based on a complaint by Vishakha Glass and Borosil Renewables, the Directorate General of Trade Remedies recommended continuing countervailing duties for five years on imports of textured toughened solar glass from Malaysia.

According to Mercom India’s newly released Q4 and Annual 2025 India Solar Market Update Report, the country recorded its highest-ever annual solar capacity addition in the calendar year 2025, installing 36.6 GW, a 43% increase over the 25.6 GW added in 2024.

According to Mercom Capital Group’s 2025 Annual and Q4 Solar Funding and M&A Report, merger and acquisition activity was 17% higher YoY in 2025, with 96 corporate M&A transactions, up from 82 in 2024.

Recently, the CCI dismissed allegations of bid rigging, abuse of dominant position, and anti-competitive conduct in a case involving Adani Group entities, Azure Power, and the Solar Energy Corporation of India.

In March, the CCI approved Singapore-based Global Infrastructure Partners EM Star‘s subscription to Aditya Birla Renewables’ equity shares worth $335 million.