Khaitan & Co advised the consortium of lenders led by Union Bank of India in relation to financial assistance of an amount not exceeding ₹1255.5 crore by way of term loan and other credit facilities to be availed by Avaada InClean Private Limited.
The Firm drafted, negotiated and finalized the transaction documents and conducted due diligence on this financing transaction.
The transaction team consisted of Dr Siddharth Srivastava (Partner), Aparna Tripathi (Principal Associate), Rashneet Kaur (Principal Associate), Anwesha Dasgupta (Senior Associate) and Yash Patel (Senior Associate).
Avaada InClean Private Limited is a subsidiary of Avaada Energy Private Limited, which itself is part of the Avaada Group, a prominent renewable energy company in India. Avaada InClean was incorporated in September 2021 and is actively involved in the power generation, collection, and distribution of electricity. Notably, in March 2024, Avaada InClean signed a 25-year Power Purchase Agreement (PPA) with Damodar Valley Corporation (DVC) to supply 421 MW of solar power from a project being established in Gujarat.
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