Khaitan & Co advised Purvah Green Power Pvt Ltd, a subsidiary of CESC Ltd, on its acquisition of 100% of the share capital of ReNew Hans Urja Pvt Ltd, ReNew Solar Photovoltaic Pvt Ltd, ReNew Wind Energy (Karnataka 3) Pvt Ltd, ReNew Wind Energy (MP Four) Pvt Ltd, ReNew Wind Energy (Karnataka 4) Pvt Ltd, and ReNew Agni Power Pvt Ltd, from ReNew Solar Power Pvt Ltd (collectively, the “Target Companies”), pursuant to a Share Purchase Agreement.
The Target Companies own and operate six solar power projects located across the states of Rajasthan and Karnataka, with a cumulative capacity of 1,411.48 MWDC.
The completion of this transaction will significantly accelerate the an-India presence of the Purvah Green’s portfolio increasing its operational capacity to over 1.8 GWp, bringing the total portfolio to approximately 4.8 GWp.
The deal team was assisted by:
Capital Markets: Sudhir Bassi (Partner)
Direct Tax: Raghav Bajaj (Partner)
The core team consisted of Prashant Sirohi (Partner), Anuj Singh Chauhan (Principal Associate), Pooja Ravikrishnan (Senior Associate), Divisha Dwivedi (Associate) and Abhishek Choudhary (Associate).