Solarcraft Power India 16 Private Limited, a special purpose vehicle owned by BluPine Energy Private Limited, has secured a green field project financing of ₹241.66 crore ($290.53 million).

JSA Advocates & Solicitors advised the mandated lead arranger bank and other members of the lender syndicate as lender’s counsel in connection with the financing.

The transaction team was led by Tirthankar Datta (Partner) who was supported by Sagar Srivastava (Principal Associate) and Vedant Saraf (Associate) .

M. Arun Kumar (Partner), Ahona Pal (Senior Associate), Harshit Manaktala (Senior Associate), Bhavesh Gupta (Associate) and Gaurav Prathik G (Associate) advised on projects and infrastructure legal due diligence.

The finances were extended for the financing, construction and operation of a 150 MW (AC) firm and dispatchable renewable energy (FDRE) generation project, comprising a combination of solar, wind, and battery energy storage system (BESS), being set up at Aland, Karnataka. Solarcraft has executed a long-term power purchase agreement (PPA) with SJVN Limited.

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