Seven subsidiaries of Azure Power India Private Limited have availed term loan facilities aggregating to ₹2,400 crore from REC Limited, for the purpose of re-financing of renewable power projects in the portfolio of the Azure Group with a cumulative capacity of 615MW.
Luthra and Luthra Law Offices India advised the subsidiaries of Azure Power on this transaction.
The transaction team was led by Karan Mitroo (Partner) with Associates Ankita Parasar (Managing Associates), Samarth Sharma (Managing Associates) and Harshil Kakkar (Associate).
This transaction reaffirmed Azure Power's strong market position and ensured that the green bonds issued by relevant Azure Group entities to the bondholders abroad worth USD 310 Million are prepaid.
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