In a significant development within the renewable energy sector, Primo Chemicals Limited has successfully invested in TPCS Private Limited, a dedicated entity formed to develop, own, operate, and maintain a substantial 49.998 MW AC solar power plant. This project operates under a captive mode utilizing an OPEX model, reflecting a growing trend towards sustainable energy solutions.
The reputable law firm, Luthra and Luthra Law Offices India, played a pivotal role in advising both Sun Photonics Private Limited, a stakeholder in TPCS, and Primo Chemicals Limited throughout this investment process. Their legal expertise was crucial in navigating the complexities of transaction documentation and advisory services.
Luthra and Luthra’s involvement included comprehensive support in drafting critical documentation such as the lease deed, power purchase agreement, and a share subscription and shareholders’ agreement. Furthermore, the firm provided legal guidance on the captive power framework, ensuring adherence to current electricity regulations and related legal provisions.
The transaction was meticulously handled by a proficient team from Luthra and Luthra, led by Girish Rawat, Senior Partner, alongside Senior Associate Akshara Grover and Associate Sayali Dodal. Their combined expertise ensured a seamless execution of the transaction, reinforcing the firm’s reputation in the legal advisory space for renewable energy projects.
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