United States International Development Finance Corporation has provided loan facility (by way of an ECB) of up to $250 million to TP Solar Limited.

TT&A advised United States International Development Finance Corporation on this transaction.

The transaction team consisted of Gautam Saha (Joint Managing Partner), Ambarish Mohanty (Partner), Pallavi Meena (Partner), Farhan Shehab Umar (Senior Associate) and Sajjan Singh (Associate).

The loan will be used towards the construction and operation of a 4.3 GW solar photovoltaic module and 4.3 GW solar photovoltaic cell manufacturing facility by TP Solar Limited (a Tata group entity) in Tamil Nadu, India, which is expected to contribute to India’s domestic production capability of solar panels, and support as many as 2,300 full-time local jobs (including ensuring that 60 percent of TP Solar’s workforce consists of women over time).

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