Sunsure Energy Private Limited and its group companies have secured ₹262 crore project financing from Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V. (FMO) and Axis Bank Limited, by way of private placement of secured, unlisted, redeemable, non-convertible debentures.
DSK Legal advised Sunsure Energy on this transaction. The Firm advised and assisted in reviewing and negotiating the transaction documentation and advising Sunsure Energy on matters relating to listing, security creation and perfection.
The transaction was led by Anjan Dasgupta (Partner) and Roochi Loona (Partner), with support from Associate Sameksh Shetty and Aditya Shukla.
Khaitan & Co advised FMO and Axis Bank on this transaction.
The transaction team consisted of Manisha Shroff (Partner, Banking & Finance), Dr. Siddharth Srivastava (Partner, Insolvency & Restructuring, Banking & Finance), Rashneet Kaur (Counsel), Anwesha Dasgupta (Principal Associate), Chirag Gohil (Senior Associate), Shikha Mohini (Senior Associate), Pratishthit Mittal (Associate) and Indrajeet Bannerjie (Associate).
This is the first time that FMO has extended project financing for a Group Captive Commercial & Industrial (C&I) renewable energy project in India.
Sunsure Energy utilise the funds to develop and operate solar power projects with a combined capacity of approximately 75 MWp DC at Ilayangudi, Tamil Nadu, and towards other project costs and transaction expenses. Power will be supplied to C&I off-takers in Tamil Nadu, under the open access route.
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