Herbert Smith Freehills Kramer (HSF Kramer), Cyril Amarchand Mangaldas (CAM) and JSA advise on CleanMax’s ~US$299 million renewable energy project finance.
CleanMax has secured external commercial borrowings totalling approximately US$299 million across two renewable energy projects in Karnataka, India. The financings comprise a US$125 million facility for a 140 MWac wind power project and a US$174 million facility for a 155 MWac hybrid (wind and solar) project. Both projects have achieved financial close and are being developed for a wholly owned subsidiary of a global technology company under long-term renewable energy purchase agreements.
Herbert Smith Freehills Kramer advised the international lenders on both financings.
The team was led by Partner and Head of the India Finance practice Dhananjaya Chak, supported by Senior Associate Nicholas Gerovasilis, Associates Jenny Seong and Swati Gupta, and Trainee Yashvi Hora.
Cyril Amarchand Mangaldas acted as Indian law counsel to the lenders.
JSA Advocates & Solicitors advised Clean Max Tasman Private Limited on the US$125 million external commercial borrowing for the 140 MW wind power project.
The team included Partners Karan Mitroo, and Kartikeya Dubey and Senior Associate Aditya Bhayal.
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