Cyril Amarchand Mangaldas advised Statkraft A.S. on divestment of its 1.3 GW energy portfolio in India
The leading law firm in India, Cyril Amarchand Mangaldas, advised Statkraft A.S. (“Statkraft”) on the divestment of its 1.3 GW energy portfolio in India, including:
- 100% stake sale of Tidong Power Generation Private Limited, implementing a 150 MW hydroelectric project in Himachal Pradesh, to JSW Neo Energy Limited;
- 100% stake sale of Sourya Manthan Renewable Energy Private Limited, Cannice Renewable Energy Private Limited, and Foxtrot Solar Renewable Energy Private Limited (the “Target Companies”) to Serentica Renewables India Private Limited. The Target Companies operate a 445 MWp solar power plant and have under-development solar and hybrid projects totaling 920 MWp in Rajasthan;
- Sale of Statkraft’s 49% shareholding in Malana Power Company Limited and AD Hydro Power Limited, which collectively own and operate 278 MW hydroelectric projects in Himachal Pradesh since 2010, to Bhilwara Energy Limited.
(collectively referred to as “Transactions”).
The transactions are subject to customary conditions precedent.
The Cyril Amarchand Mangaldas team was led by Ramanuj Kumar (Partner, Co-Head – Projects (Energy & Energy Transition)), Sreetama Sen (Partner), and Aiswarja Mohanty (Partner), with support from Shrey Srivastava (Principal Associate), Kumar Mangalam (Associate), and Rohil Kenue (Associate).
The employment due diligence was led by Sowmya Kumar (Partner), with support from Luv Saggi (Principal Associate) and Shivika Gupta (Associate).
The competition law aspects of the Transactions were advised by Vijay Pratap Singh Chauhan (Partner), with assistance from Kartik Agrawal (Associate).
The corporate due diligence was led by Sreetama Sen (Partner), supported by Kumar Mangalam, Sanya Rizvi, Soumya Gupta, and Megha Mehta (Associates).
The real estate aspects were advised by Ashish Jain (Partner) and Karan Sharma (Partner), with assistance from Siddhant Sharma, Kartik Adlakha, Amritesh Anand, and Rishita Khandelwal.
The projects due diligence was led by Ramanuj Kumar (Partner, Co-Head – Projects (Energy & Energy Transition)), Aiswarja Mohanty (Partner), and Nishikant Sao (Partner – Designate), with support from Shrey Srivastava (Principal Associate), Sumi Trivedi (Principal Associate), Suprabh Garg (Associates)., Snehil Ajmera (Associates)., Rashika Bhardwaj (Associates), Sayor Ray (Associates)., and Ananaya Agrawal (Associates)..
The regulatory aspects were advised by Vishal Binod (Partner), with support from Aditya Dubey (Senior Associate) and Sagnik Maitra (Senior Associate).
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