Cyril Amarchand Mangaldas advised Adani Energy Solutions on JV for smart metering solutions

Cyril Amarchand Mangaldas advised Adani Energy Solutions on JV for smart metering solutions

Cyril Amarchand Mangaldas (CAM) advised Adani Energy Solutions Limited (AESL) on investment in a joint venture for smart metering solutions with Esyasoft Holding Limited (Esyasoft). Esyasoft has expertise in building cloud and IoT-based energy management solutions, catering to the energy automation sector.

The Project & Project Finance Practice of Cyril Amarchand Mangaldas advised on the matter. Transaction team was led by Ramanuj Kumar, Partner; with support from Shrey Srivastava, Senior Associate.

As a part of the transaction, AESL through its wholly owned subsidiary, Adani Transmission Step-Four Limited (“ATSFL”) has entered into a joint venture agreement with Esyasoft to acquire 49% stake in Adani Esyasoft Smart Solutions Limited (the “JV Company”). JV Company is incorporated in Abu Dhabi. Esyasoft is majority owned by Abu Dhabi-based International Holding Company.

As part of the transaction, EHL will license its IP (intellectual property) portfolio to the JV Company, for deployment by AESL (and its affiliates) in smart metering projects in India and abroad. The JV company will also undertake future product development through teams in India and elsewhere.

Other parties and advisors to the transaction included Al Tamimi & Company (acted as legal counsel for Adani Energy Solutions Limited in relation to laws of United Arab Emirates).

The signing date was 25th December 2023; and closed by 31 December 2023.

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