Our firm advised Power Finance Corporation Limited ("PFC") in connection with a granting a financial assistance aggregating up to USD 295.43 million to ReNew Photovoltaics Private Limited for setting up and implementation of solar module manufacturing plants in Jaipur, Rajasthan and Dholera, Gujarat (with an aggregate capacity of 6.4GW) and solar cell manufacturing plant in Dholera, Gujarat (with an aggregate capacity of 2.5GW).
This is the maiden financial assistance granted by PFC for the setting up of solar cell manufacturing plant. This was also the first instance where ReNew Photovoltaics Private Limited availed a project financing for both manufacturing of a solar cell manufacturing plant as well for the implementation of the solar module manufacturing plant.
Deal amount: USD 295.43 million
INDUSLAW Team:
Banking & Finance team: Pritha Chatterjee (Partner), Neeati Narayan (Principal Associate), Rishabh Bhojwani (Senior Associate) and Abhishek Jha (Associate).
Projects team: Arun Kumar (Partner), Ahona Pal (Senior Associate), Anurag Mawai (Associate) and Aayushi Kulshreshtha (Associate).
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