Shardul Amarchand Mangaldas advises ACME Solar Holdings Ltd. in divestment of 100% of its stake in 400MW operational solar projects to Actis Greengen Limited
August 12, 2020
Shardul Amarchand Mangaldas & Co (SAM & Co) advised ACME Solar Holdings Ltd in divestment of 100% of its stake in 400MW operational solar projects located in Madhya Pradesh and Andhra Pradesh to Actis Greengen Limited. The entire divestment transaction was completed on 6 August, 2020.
This is one of the largest deals in the Indian renewable sector since the outbreak of the Covid‐19 pandemic, and also one of the first transaction involving a solar project located in Andhra Pradesh, post the commencement of regulatory disputes and uncertainties around AP renewable projects.
SAM & Co. acted as the Indian Legal Counsel for ACME Solar Holdings Limited. The transaction team was led by Jatin Aneja, Partner, National Practice Head, Projects & Infrastructure; Siddhartha Sen, Partner; Prashant Sirohi, Partner; Kushal Sinha, Principal Associate; Dhrupad Pant, Senior Associate; Simran Kaur, Associate; and Rishab Chaudhary, Associate.
Nishith Desai Associates acted as the legal counsel for Actis Greengen Limited. The team was led by Simone Reis and Rajesh Simhan.
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