Luthra and Luthra Law Offices India, Baker McKenzie Wong & Leow and JSA have counselled parties involved in Indian Renewable Energy Development Agency’s (IREDA) JPY28 billion (USD173.6 million) sustainable loan.
Luthra and Luthra acted for IREDA on the JPY28 billion syndicated sustainable term loan facility.
Senior partner Girish Rawat led the team, with the support of partner Zeeshan Ali Khan and associate Pranav Dwivedi. The team advised IREDA on all aspects of the transaction, including external commercial borrowing and non-banking financial company (NBFC) regulatory structuring, transaction documentation, alignment with the sustainable finance framework, and the negotiation of key financing terms tailored to the IREDA as a government-owned NBFC.
The GIFT City branch of Sumitomo Mitsui Banking Corporation extended the loan facility, while its Singapore branch acted as mandated lead arranger and bookrunner, sustainability co-ordinator and facility agent.
JSA represented the lender with partner Utsav Johri leading the team, which included partner Megha Upadhyaya, counsel Neeati Narayan and associate Priyanshi Srivastava.
Baker McKenzie Wong & Leow counselled on England law.
The IREDA is a specialised Navratna public financial institution operating under India’s Ministry of New and Renewable Energy. Established in 1987, IREDA’s primary mission is to promote the development and adoption of renewable energy and energy efficiency across India by providing financial assistance to eligible projects.
