L&L, ELP advise on ReNew hydropower deal

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L&L,-ELP-advise-on-ReNew-hydropower-deal

L&L Partners advised Nasdaq-listed ReNew Power on its INR10 billion (USD137 million) acquisition of L&T Uttaranchal Hydropower, which owns the 99MW Singoli Bhatwari hydroelectric project, from L&T Power Development, a subsidiary of National Stock Exchange of India and BSE-listed Larsen & Toubro (L&T).

Economic Law Practice (ELP) advised L&T. The deal closed on 30 August.

L&L Partners’ team comprised partner Avirup Nag, senior associate Ankit Sahoo, and associates Ishita Gupta and Srijita Jha.

ELP’s team, which was led by its managing partner Suhail Nathani, included partner Aakanksha Joshi, associate partner Ananthram Ganesh, counsel Taskeen Hamid, and senior associate Vinit Shah.

Announcing the deal on 11 August, ReNew Power said the acquisition “marks ReNew’s entry into the hydropower sector, which is expected to play an important role in providing innovative renewable energy solutions for ReNew’s customers”.