Munish Sharma, Partner and his team comprising of Seema Salwan, Principal Associate, Rashi Jain, Associate and Adarsh Raj Singh, Associate with inputs from Anil Agrawal, Partner, Sunil Malik, Senior Advisor, and Punish Arora, Partner, closed the following transactions for Power Finance Corporation (PFC), a specialized Financial Institution in the power sector.
- Assistance in providing a financing facility of Rupees 27.46 crores to Gro Solar Energy Private Limited for part financing the setting up of a 7 MW (10 MWp) Solar Photo Voltaic Project in District Dhule of Maharashtra;
- Assistance in providing a financing facility of Rupees 258.15 crores to Jakson Power Private Limited for part financing the setting up of a 70 MW (92 MWp) Solar PV Power Project in Amguri Solar Power Park, Sivasagar District, Assam.
These deals are significant as they are the first two transactions of PFC based on a revised Sanction Letter terms, making finalization of the documents extremely complex and cumbersome. Moreover, special mention needs to be made that these transactions were concluded in a record four-week period.
The team also successfully closed the signing of two transactions for assisting Radiance Renewables, a distributed renewable energy platform, in setting up of a 4 MW and a 7MW greenfield solar power project at Challakere Taluk, Chitradurga District, Karnataka. The work involved providing advice on various aspects of provision of common infrastructure and evacuation facilities and sub-lease of the land provide by the solar park developer and inter-play of these arrangements.
