Deal Closed | Cleantech Capital Limited | Financing of Clean Max LLPs

The details of the deal are as follows:

Sector: Wind 

Completion Date: 12-Aug-2020 

Name of Client: Tata Cleantech Capital Limited 

Tata Cleantech Capital Limited operates as an investment arm of Tata Capital Limited. It specializes in clean energy and clean technology investments. The firm focuses on Energy Efficiency, Renewable Energy generation projects, such as Wind power, Small hydropower, Electric Mobility, Distributed solar power, Power Transmission, Utility-Scale Solar, Bio-mass and Waste treatment, Water management projects, and projects that aid carbon footprint reduction. It also finances for green projects. 

Deal Description: Khaitan acted as lender’s legal counsel to Tata Cleantech Capital Limited (TCCL) in connection with transfer of a portion of the partnership interest held by Clean Max Enviro Energy Solutions Pvt Ltd in Clean Max Pluto Solar Power LLP, Clean Max Deneb Power LLP and Clean Max Vega Power LLP (“Borrowers”), to whom TCCL has provided financial assistance, in favour of an Alternative Investment Fund and documentation for security creation for the security to be created by the AIF for the loans. 

Total Consideration: INR 115 crore (USD 15 million) 

Team Members: Siddharth Srivastava (Partner) and Kanika Kadam (Principal Associate) 

Role of Firm: Khaitan and Co acted as the lender's legal counsel and were involved in review of the documents in relation to the transfer of the partnership interest of the Borrowers to the AIF and drafting and finalised the security documents to be provided by the AIF.