Renew Surya Roshni Private Limited has successfully secured an external commercial borrowing of $730 million. This significant financial milestone was achieved with the support of a consortium of twelve prominent banks. The banking consortium includes Sumitomo Mitsui Banking Corporation, Standard Chartered Bank, Société Générale, Bank of America, NA, DBS Bank Ltd., ING Bank NV., MUFG Bank, Ltd., Mizuho Bank, Ltd., Taipei Fubon Commercial Bank Co., Ltd., Qatar National Bank, Crédit Agricole Corporate and Investment Bank, and CTBC Bank Co Limited.
JSA Advocates & Solicitors provided legal counsel to Renew Surya Roshni throughout this transaction. The advisory team was led by Karan Mitroo, a partner at JSA, with invaluable support from Kartikeya Dubey (Partner), Pragya Verma (Senior Associate), and Supriya Saxena (Junior Associate). Their combined expertise ensured the smooth facilitation of this complex financial arrangement.
The funds obtained will be allocated towards refinancing a 320 MW capacity round-the-clock (RTC) project. This project, which integrates wind, solar, and battery energy storage systems (BESS), spans across the Indian states of Rajasthan, Maharashtra, and Karnataka. Renew Surya Roshni Private Limited is supported by its ultimate shareholders, ReNew Power and Mitsui, in this ambitious endeavor to enhance renewable energy infrastructure.
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