Cyril Amarchand Mangaldas (CAM) provided legal counsel to Anzen India Energy Yield Plus Trust (the Purchaser) and EAAA Real Assets Managers (the Investment Manager) on acquiring 100 per cent shareholding and economic interest in ReNew Sun Waves Private (the Company) from ReNew Private (the Seller).
The Company owns a 300 MW solar power project in Rajasthan, operational since 2021. The project has a 25-year Power Purchase Agreement (PPA) with the Solar Energy Corporation of India (SECI), making it a significant addition to the Purchaser's renewable energy portfolio.
The transaction involved a multidisciplinary CAM team led by Manasvini Raj, Partner, with support from Dishi Bhomawat, Senior Consultant, and Dhruv Agarwal, Associate. Guidance on the Infrastructure Investment Trust (InVIT) framework was provided by Kranti Mohan, Partner and Head of REITs and InvITs at CAM.
Real estate diligence support was overseen by Ashish Jain, Partner, and Shorya Choudhary, Senior Associate. The broader diligence team was spearheaded by Manasvini Raj, Partner, with contributions from Aiswarja Mohanty, Partner, and Vishal Binod, Partner. Additional support came from Sagnik Maitra and Daksh Mehta, both Associates.
The acquisition aligns with the Purchaser’s strategy to expand its renewable energy footprint in India. By securing this operational asset, Anzen India Energy Yield Plus Trust aims to leverage stable cash flows and long-term sustainability.
The transaction was signed on 19 December 2024, further cementing CAM’s expertise in renewable energy and infrastructure transactions. This advisory reinforces CAM’s commitment to facilitating deals in India's growing clean energy sector.
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