IREDA has sanctioned a Rs.200 crore term loan to a major renewable developer for a 65.7 MW solar photovoltaic project across 11 locations in Uttar Pradesh. The deal advised by CMS IndusLaw aims to boost clean energy capacity.
Indian Renewable Energy Development Agency Limited (IREDA) has sanctioned a Rs.200 crore term loan facility to a prominent renewable energy developer to help part-finance the development and implementation of a 65.7 MW Solar Photovoltaic Power Project established across 11 locations in Uttar Pradesh.
CMS INDUSLAW advised IREDA on the structuring, negotiation, and execution of the financing documentation for the term loan facility.
The Firm carried out title due diligence for the project lands across the 11 locations in Uttar Pradesh, and also handled the drafting, structuring, and negotiation of the facility agreement along with a comprehensive set of security documents.
The transaction team was led by Kshitij Bishnoi (Partner) and Gautam Kumar Bhargava (Partner), with support from Yogendar Singh (Senior Associate) and Kartik Madaan (Associate).
The project has been awarded under the PM-KUSUM Scheme (Component C) and has a total estimated project cost of Rs.334.52 crore.
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