Ingka Investments Sustainable Resources B.V., the investment arm of Ingka Group, has acquired 100% shareholding of Saimaa Solar Private Limited from IB Vogt Singapore Pte Limited.

CMS INDUSLAW advised Ingka Investments on this acquisition.

The transaction team was led by Harman Walia (Partner), with assistance from Tanmaya Negi (Principal Associate), Aman Gupta (Senior Associate), Deepansh Goyal (Senior Associate) and Aanshavi Srishti (Associate).

Shashwat Kumar (Partner), with assistance from Harshit Gupta (Associate), advised on Projects law aspects.

Lokesh Shah (Partner), with assistance from Gaurav Goyal (Principal Associate) and Aarya Jha (Associate), advised on Tax law aspects.

Saimaa Solar Private Limited shall be operating subsidy-free 210 MWp solar project in Rajasthan.

This marks Ingka Investments first investment in India’s renewable energy sector, as a part of its EUR 97.5 million renewable energy commitment to India.

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