Cyril Amarchand Mangaldas Advises Power Finance Corporation
Cyril Amarchand Mangaldas advises Power Finance Corporation Limited on its INR 5,647 crore financing of a 1500 MWAC (2100 MWDC) solar photovoltaic (PV) plant connected with central evacuation infrastructure in Pinnapuram, Kurnool District in the state of Andhra Pradesh (“Project”) of Greenko AP01 IREP Private Limited. As part of the transaction, we conducted extensive due diligence, intricate structuring and drafting, capturing inter alia the revenue sharing mechanism for PFC with the existing lenders in relation to the pump storage project of Greenko AP01.
The Project & Project Finance team of Cyril Amarchand Mangaldas advised on the transaction. The transaction team was led by Ajay Sawhney, Partner; Bhupendra Verma, Partner; with support from Aditya Prakash, Senior Associate; Kanhai Srivastava, Senior Associate; Ashish Jain, Associate; and Nikhil Gupta, Associate.
Other advisors to the transaction included IDBI Trusteeship Services Limited, acted as security trustee.
The transaction was signed on 28th March, 2024 and closing was done on 30th March, 2024.
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