British International Investment, the UK government-owned development finance institution, sought approval from the Competition Commission of India to acquire a stake in ReNew Photovoltaics. The filing, submitted on May 21, involved an investment via subscription to the company’s securities. ReNew Photovoltaics manufactures solar modules and cells in India. According to the notice, there are no direct horizontal or vertical overlaps between the two parties, although some of BII’s portfolio companies operate in India’s solar energy sector.