NIIF Infrastructure Finance Limited has provided financial assistance to 7 SPVs of the Avaada Group, aggregating to approximately ₹597 crore for refinancing of operational solar power projects in the states of Karnataka and Maharashtra under a captive/group captive scheme.
Luthra and Luthra Law Offices India advised NIIF Infrastructure Finance on this financing deal.
The Transaction team was led by Karan Mitroo (Partner) and assisted by Samarth Sharma (Managing Associate) and Associates Pragya Verma, Shantanu Awasthi, Jhalak Gupta, Harshil Kakkar and Harsh Dugar.
The refinancing facilitated by NIIF Infrastructure Finance Limited has reaffirmed the strength and stability of Avaada Group’s solar projects.
These commercial and industrial (C&I) projects currently supply electricity to various leading corporations in the country, including Bharati Airtel Services Limited, Motherson Group, Bharat Forge Ltd, STT Group, NXTRA DATA LIMITED, Lumax World, supporting them in their energy transition goals.
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