"Ingka Investments Makes First Renewable Energy Investment in India with Acquisition of 210 MWp Solar Project in Rajasthan"

"Ingka Investments, the investment arm of Ingka Group, has made its first foray into India's renewable energy sector by acquiring Saimaa Solar Private Limited, which will operate a subsidy-free 210 MWp solar project in Rajasthan. This investment is part of Ingka's EUR 97.5 million renewable energy commitment to India. CMS INDUSLAW provided legal assistance for the acquisition."

CMS INDUSLAW advised Ingka Investments Sustainable Resources B.V., the investment arm of Ingka Group, on its acquisition of 100% shareholding in Saimaa Solar Private Limited from IB Vogt Singapore Pte Limited. The transaction involved Ingka Investments acquiring Saimaa Solar Private Limited, which will operate a subsidy-free 210 MWp solar project in Rajasthan. This marks Ingka Investments' first investment in India's renewable energy sector, as part of its EUR 97.5 million renewable energy commitment to India. The CMS INDUSLAW team was led by Harman Walia (Partner), with assistance from Tanmaya Negi (Principal Associate), Aman Gupta (Senior Associate), Deepansh Goyal (Senior Associate), and Aanshavi Srishti (Associate). Shashwat Kumar (Partner), assisted by Harshit Gupta (Associate), advised on Projects law aspects. Lokesh Shah (Partner), supported by Gaurav Goyal (Principal Associate) and Aarya Jha (Associate), advised on Tax law aspects.

"Ingka Investments Makes First Renewable Energy Investment in India with Acquisition of 210 MWp Solar Project in Rajasthan"

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