Pioneer Legal and AZB & Partners are advising Chemplast Sanmar Limited (CSL) and its subsidiary, Chemplast Cuddalore Vinyls Limited (CCVL), on acquiring an 18.46% stake for ₹21.38 crore and a 7.82% stake for ₹9.05 crore, respectively, in JSW Green Energy Nine Limited.
Pioneer Legal is advising JSW Neo Energy Limited, the parent company of JSW Green, on this transaction.
The transaction team consisted of Narendra Dingankar (Partner), Dhruval Sheth (Senior Associate), Shreya Gokhale (Associate), Dhruv Jain (Associate), and Ayush Sharma (Associate).
AZB & Partners represented CSL and CCVL on this transaction.
This initiative aims to develop a renewable energy project comprising 64.9 MW AC (92.80 MW peak) of solar power and 20 MW of wind power. The collaboration follows the signing of a Power Purchase Agreement under the Group Captive Power Scheme, enabling Chemplast Sanmar and CCVL to secure long-term access to green energy, thereby reducing carbon emissions and lowering energy costs.
Chemplast Sanmar Limited is a leading specialty chemical manufacturer in India, primarily engaged in the production of PVC resins, caustic soda, chlorochemicals, and other specialty chemicals. A part of the Sanmar Group, the company has a strong presence in the chemical industry with manufacturing facilities in Tamil Nadu and Puducherry.
JSW Green Energy, a subsidiary of JSW Neo Energy Limited, is a key player in India's renewable energy sector. It is part of the JSW Group, which has been expanding its green energy portfolio to support India's transition toward sustainable power sources. The company is involved in the generation of solar, wind, and hybrid renewable energy projects across the country.
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