DSK Legal advised ReNew Power largest renewable energy power producers
DSK Legal advised ReNew Power largest renewable energy power producers
Leading law firm DSK Legal advised ReNew Power Private Limited ("ReNew"). ReNew Power has signed definitive agreements to acquire operating wind and solar assets of 527.9 MW. It has also signed a power purchasing agreement with Maharashtra State Electricity Distribution Company Limited (MSEDCL) for a 200 MW solar project.
DSK Legal advised ReNew Power Private Limited ("ReNew") on signing of definitive agreements for acquisition of operating wind and solar asset portfolio of 527.9 MW, comprising 471.65 MW of wind and 56.25 MW of solar assets. The expected closing of the overall transaction is in Q2 FY23, but ReNew will receive all cash flows generated from the assets from the lock box date, i.e., April 1, 2022. The acquired 527.9 MW of operating wind and solar projects are spread across 40+ projects situated in eight Indian states, i.e. Gujarat, Karnataka, Kerala, Madhya Pradesh, Maharashtra, Rajasthan, Tamil Nadu and Telangana.
ReNew is one of the largest renewable energy independent power producers (IPPs) in India and globally. ReNew has a portfolio of 12.8 GW of renewable energy projects across India.
DSK Legal assisted ReNew on all legal aspects of the transaction, including conducting legal due diligence, transaction structuring, reviewing, negotiating and finalising the definitive agreements. Link Legal represented the seller on the transaction.
The core team at DSK representing ReNew comprised of Mr. Harvinder Singh (Partner), Ms. Shruti Dogra (Principal Associate), and Mr. Manhar Gulani (Senior Associate). Mr. Aparajit Bhattacharya (Partner) acted as the lead engagement and relationship partner for ReNew on this transaction.
The legal due diligence team included Associate Partner, Ms. Rimali Batra; Principal Associate, Ms. Shruti Dogra; Senior Associates, Ms. Anisha Bhattacharya and Mr. Manhar Gulani & Associates, Ms. Arpita Nandi, Ms. Mala Mehto, Mr. Abhikalpa Ghosh and Ms. Nida Negi.
