Ashurst Perkins Coie & Indian Law Partners (ILP) advised JBIC on JPY 80 billion loan to Power Grid Corporation of India Ltd.
Japan Bank for International Cooperation (JBIC) and the co-financing lenders have granted a loan of JPY 80 Billion to Indian Government transmission company, Power Grid Corporation of India Ltd. (PGCIL) for a high-voltage direct current (HVDC) transmission project in India.
This is one of the world’s largest HVDC project supporting India’s goal of reaching 500 GW of renewable energy capacity by 2030 involving transmission of electricity from the Khavda Renewable Energy Park in Gujarat, to Nagpur in Maharashtra.
Ashurst Perkins Coie, Tokyo Japan led by a team of Partner Teruma Naito acted for JBIC and co-financing lenders as international counsel.
ILP advised JBIC and co-financing lenders on the Indian law aspects, led by a team of Partners Gopika Pant & Vineet Gupta and assisted by Senior Associates Vinayek Mehra and Ayush Tiwari and Associates Sakshi Raj and Kaushiki Keshari.
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