Cyril Amarchand Mangaldas (“CAM”) advised Yamuna International Airport Limited ("YIAPL") in selection of Tata Power Company Limited (“Tata Power”) through a competitive bidding process for procurement of 23.8 MW of renewable energy to meet the majority power requirement of the Noida International Airport ("NIA"). Green Power shall be supplied by Tata Power through 13 MW onsite solar plant and 10.8 MW offsite wind power for a period of 25 years. CAM also advised YIAPL in relation to a contract with Tata Power for development, operation and maintenance of critical dry utilities (including essential electrical infrastructure) for a period of 25 years.
YIAPL has entered into two separate power purchase agreements with Tata Power for procuring renewable energy from onsite solar plant and offsite wind energy plant with the scope of Tata Power to develop, operate and maintain the plants. Onsite solar plant shall be developed at the NIA site and wind energy shall be supplied from a wind power plant located anywhere in India through inter state transmission system (ISTS). Procurement of renewable energy under aforesaid arrangement would help NIA meeting its sustainability goals and becoming a green airport.
The transaction team was led by Ajay Sawhney, Partner & Head - Northern Region; and Bhupendra Verma, Partner.
The power purchase agreements were signed on 7th November, 2024.
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