Cyril Amarchand Mangaldas advised lenders on external commercial borrowing and other credit facilities for Clean Max Tasman
The leading law firm in India, Cyril Amarchand Mangaldas advised the lenders in relation to an external commercial borrowing, letter of credit facilities, standby letter of credit facility, hedging facilities, and a bridge letter of credit facility availed by Clean Max Tasman Private Limited, April 28, 2026, Mumbai.
The borrower, a wholly owned subsidiary of Clean Max Enviro Energy Solutions Limited, has availed the financing for the construction of a 140 MW (AC) wind power project in Karnataka.
The completion of the transaction is subject to customary regulatory approvals and closing conditions.
This transaction marks the first external commercial borrowing financing a dollar-denominated environmental attributes purchase agreement (EAPA) entered into with a non-resident offtaker. The EAPA adopts principles of a virtual power purchase agreement, with a strike price agreed between the parties, wherein any upside from the sale of power on the exchange is passed on to the offtaker and any downside is borne by the offtaker.
The Cyril Amarchand Mangaldas team was led by Sangita John (Partner), with support from Shehryar Khanum (Consultant), Samiya Zehra (Senior Associate), and Daksh Mehta (Associate), Sanjana Reddy (Associate), Sharun Salvi (Associate), and Sanya Katare (Associate).
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