Luthra And Luthra Advises NIIF Infrastructure Finance On INR 597 Crore Refinancing For Avaada Group's Solar Projects In Karnataka And Maharashtra
LIVELAW NEWS NETWORK
16 Oct 2024 1:55 PM IST
Luthra and Luthra Law Offices India advised NIIF Infrastructure Finance Limited, in relation to the financial assistance provided to 7 SPVs of the Avaada Group, one of India's largest renewable power generators, aggregating to approximately INR 597 Crore in connection with refinancing of operational solar power projects in the states of Karnataka and Maharashtra under a captive/group captive scheme.
The refinancing facilitated by NIIF Infrastructure Finance Limited has reaffirmed the strength and stability of Avaada Group's solar projects.
These commercial and industrial (C&I) projects currently supply electricity to various leading corporations in the country, including Bharati Airtel Services Limited, Motherson Group, Bharat Forge Ltd, STT Group, NXTRA DATA LIMITED, Lumax World, supporting them in their energy transition goals.
The Transaction team was led by Partner Karan Mitroo and was ably assisted by Managing Associate Samarth Sharma and Associates Pragya Verma, Shantanu Awasthi, Jhalak Gupta, Harshil Kakkar and Harsh Dugar.
