Dentons Link Legal advised Ministry of Coal and SBI Capital Markets on INR 85 Billion First-of-its-Kind Coal Gasification Project
Dentons Link Legal advised as the transaction counsel to the Ministry of Coal, Government of India (MoC) and SBI Capital Markets Limited (Transaction Advisors) in the bidding and implementation of seven coal/lignite gasification projects under three identified categories. The projects are part of the Government of India’s Coal Gasification Financial Incentive Scheme, launched on 24 January 2024, with an aggregate outlay of INR 85 billion (~USD 1 billion).
These projects represent a first-of-its-kind initiative in India and mark a significant milestone towards the Government’s goal of achieving 100 million tonnes (MT) of coal gasification capacity by 2030. The scheme is aimed at promoting technological advancement, reducing carbon emissions, enhancing energy security, and supporting sustainable development.
The MoC executed the Coal Gasification Plant Development and Production Agreements with selected bidders across the following categories:
Category I:
- Coal India Limited (CIL)
- Bharat Coal Gasification and Chemicals Limited (JV of CIL-BHEL)
- Coal Gas India Limited (CGIL)
Category II:
- Jindal Steel and Power Limited (JSPL)
- Greta Energy Metal Private Limited
- New Era Cleantech Solution Pvt Ltd
Category III:
- New Era Cleantech Solution Pvt Ltd
Dentons Link Legal advised on all aspects of the transaction including structuring, bid documentation, evaluation, and execution of transactional documents. The engagement involved extensive negotiations with the MoC, applicants, and successful bidders, highlighting the firm’s robust expertise in infrastructure and energy sector mandates.
The Dentons deal team was led by Milind Jha (Partner), with support from Aditya Bhardwaj (Partner), Sakshi Arora (Principal Associate), and Kartikeya Tyagi (Associate).
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