Herbert Smith Freehills advised EDEN Renewables India on the deal.
EDEN Renewables India, a 50/50 Joint Venture of EDF Renouvelables S.A and Total Eren S.A requested a green limited recourse project term loan to finance a 450 MWp (300 MWac) solar project in Rajasthan, India.
The external commercial borrowing of US$165 million was provided by three banks: Standard Chartered Bank, The Development Bank of Singapore and Sumitomo Mitsui Banking Corporation.
Herbert Smith Freehills London-based project finance team advised on the transaction and were led by partner and head of energy, natural resources and infrastructure finance, Martin Kavanagh (Picture). He was supported by senior associate Dhananjaya Chak, associates Josh Attard and Mika Morissette and trainee solicitors Dammy Sokale and Thomas Eldred. Advice on hedging aspects was provided by partner Nick May and associate Vladi Resnik.
L&L Partners advised the sponsors in relation to the Indian law aspects of this transaction.
Involved fees earner: Josh Attard – Herbert Smith Freehills; Dhananjaya Chak – Herbert Smith Freehills; Martin Kavanagh – Herbert Smith Freehills; Nick May – Herbert Smith Freehills; Mika Morissette – Herbert Smith Freehills; Vladi Resnik – Herbert Smith Freehills;
Law Firms: Herbert Smith Freehills;
Clients: EDEN Renewables India;