Serentica Renewables India 1 Private Limited has successfully secured a rupee term loan of up to $345.1 million. This significant financing comes from a consortium of lenders, including the Asian Development Bank, Export-Import Bank of India, New Development Bank, and Sumitomo Mitsui Banking Corporation.
The esteemed legal firm JSA Advocates & Solicitors provided counsel to Serentica Renewables throughout this transaction. The deal was spearheaded by Karan Mitroo, a Partner at the firm, with the support of Partner Purvi Dabbiru and Principal Associate Aishwarya Dixit.
On the lenders’ side, Hogan Lovells Cadwalader offered their legal expertise. The advisory team was led by Matt Bubb, the APAC Head of Infrastructure, Energy, Resources & Projects. He was ably supported by Partner Kaveeta Sandhu, Counsel David Rho, and Associates Josh Everett and Yen Ng.
The funds acquired through this financial transaction will be directed towards several projects in Karnataka. Serentica Renewables plans to allocate part of these funds to establish a ground-mounted solar photovoltaic plant with a capacity of 189.27 MW. Additionally, a 204 MW wind capacity plant is also on the agenda, both located within the state. Furthermore, the financing will cover the implementation of transmission lines that will connect the solar and wind projects to their respective Grid Sub Stations, along with all necessary ancillary works and infrastructure development.
