Krishnamurthy and Co | View firm profile
Krishnamurthy & Co. (K Law) advised Tata Capital Limited, as the lenders’ legal counsel, in relation to five project financing transactions pertaining to the development of five large scale ground mount photovoltaic solar power projects located in Chitradurg, Hassan, and Tumkur districts of Karnataka.
The five photovoltaic solar power projects are being developed by the special purpose vehicles (SPVs) set up by a leading South India based listed business conglomerate engaged in renewable energy, ash and coal handling, chemicals, green mobility, and airport operations.
K Law structured the five project financing transactions and drafted, negotiated, and finalised all the financing documents and security documents for the five transactions, in addition to advising the lender on various legal and regulatory issues in connection with the transactions.
The five renewable energy project financing transactions were led by Zeeshan Khan (Partner) and Anirban Roy Choudhury (Principal Associate) and supported by a team of associates.
Tata Capital Limited granted the structured project financing facilities to the five project SPVs developing the solar power projects in the state of Karnataka, and the transactions were structured with pooling of securities amongst the five project SPVs and its promoter entity.
Upon start of commercial operation, Bangalore Electricity Supply Company Limited and Mangalore Electricity Supply Company Limited will offtake the renewable power produced from the five solar power projects.
The borrower group, headquartered in Chennai, is a market leader in the renewable energy sector in India and has emerged as one of India’s fastest-growing conglomerates, driving innovation and sustainability across sectors that power the nation’s growth.