Luthra and Luthra Advises Gorbea Solar In Securing ₹1,229 Crore Green Financing For Jodhpur's 300MW Solar PV Plant

Luthra and Luthra Law Offices India recently advised Gorbea Solar Private Limited, a subsidiary of Zelestra Corporation S.A.U. (formerly Solarpack Corporacion Tecnologica S.A., a Spanish company),in relation to the financial assistance availed from Bank of America, MUFG Bank Ltd., The Hongkong and Shanghai Banking Corporation Limited (HSBC) andCrédit Agricole Corporate and Investment Bank, Indiaby way of INR denominated facility of up to INR 1229 Crore in connection withfinancing of a 300MWac greenfield solar PV plant in the district of Jodhpur, Rajasthan.

This project reaffirms Zelestra's commitment to the development of renewable solutions for its customers in India. The facility, is designated as green financing under Zelestra's Green Financing Framework, aligning with the Green Loan Principles issued by the Loan Market Association.

The transaction team was led by Partner Karan Mitroo, and ably assisted by Senior Associate Surbhi Jain and Associate Jhalak Gupta.