K Law Advises Tata Capital on Green Climate Fund Financing for Behind-the-Meter Solar Projects in Tamil Nadu

Krishnamurthy & Co. (K Law) and Taylor Wessing advised lender Tata Capital Limited in relation to Green Climate Fund facilities provided for two large-scale behind-the-meter rooftop solar projects in Tamil Nadu being developed by the Indian subsidiaries of a leading European asset management company. The transactions involve Green Climate Fund financing to support the development and installation of two rooftop/behind-the-meter solar power plants in Tamil Nadu. The Green Climate Fund, established under the United Nations Framework Convention on Climate Change, aims to mobilize funding at scale to accelerate transformative climate action in developing countries. Tata Capital Limited’s cleantech finance arm — formerly Tata Cleantech Capital Limited and now merged with Tata Capital Limited — has previously partnered with the Green Climate Fund and was the first private-sector entity to secure a USD 100 million credit line to develop the solar rooftop market in India. The Green Climate Fund partnership enables Tata Capital Limited to finance various green projects in India, including the two Tamil Nadu rooftop installations. The projects will be developed by Indian subsidiaries of a major European asset manager engaged in acquisition, management and operation of energy assets worldwide. The transactions were structured on a co-obligor basis among the Indian subsidiaries and are secured by charges over project assets and ring-fenced by undertakings from the European parent entity. K Law structured the two Green Climate Fund facilities and drafted, negotiated and finalised all financing and security documents, and advised the lender on a range of legal and regulatory matters in connection with both transactions. Taylor Wessing acted as Tata Capital Limited’s foreign legal counsel in Europe. K Law represented client(s) Tata Capital Limited with a team composed by: Zeeshan Khan (Partner); Anirban Roy Choudhury (Principal Associate); and a team of associates. Taylor Wessing represented client(s) Tata Capital Limited with a team composed by: Hauke Bornschein (Partner).

K Law Advises Tata Capital on Green Climate Fund Financing for Behind-the-Meter Solar Projects in Tamil Nadu

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