Indian Law Partners and Ashurst Advise Japan Bank for International Cooperation on Financing Indian Solar Project

Indian Law Partners and Ashurst Advise Japan Bank for International Cooperation on Financing Indian Solar Project

Indian Law Partners, in collaboration with the international law firm Ashurst, has provided legal advice to Japan Bank for International Cooperation (JBIC) regarding its ‘GREEN’ financing for SJVN, an Indian hydroelectric power generation company.

SJVN Ltd, an Indian government- company, has obtained JPY 15 billion (approximately ₹915 crore) in ‘GREEN’ finance from JBIC to finance its 90 MW Omkareshwar floating solar project in Madhya Pradesh and 100 MW Raghanesda solar project in Gujarat. The loan is being co-financed with Japanese private banks, MUFG Bank and San-in Godo Bank.

SJVN and JBIC have signed the ‘Facility Agreement’ under the Global action for Reconciling Economic growth and Environmental preservation (GREEN) programme of JBIC.

Indian Law Partners provided legal advice to JBIC regarding the Indian law aspects. The team was led by partners Gopika Pant and Vineet Gupta, with assistance from senior associate Shradha Sharma and associates Annanay Goyal and Aradhana Pillai.

Ashurst’s Japan team, led by Partner David Wadham and Senior Associate Akemi Kishimoto, provided international counsel to JBIC.