Primo Chemicals Limited has made an investment in TPCS Private Limited, a special purpose vehicle established for developing, owning, operating and maintaining a 49.998 MW AC solar power plant under captive mode on an OPEX model.

Luthra and Luthra Law Offices India advised Sun Photonics Private Limited, a stakeholder in TPCS, and Primo Chemicals Limited in relation to the execution of transaction documents. The Firm provided end-to-end transaction advisory and documentation support, including drafting of lease deed, power purchase agreement and a share subscription and shareholders’ agreement. The Firm also advised on the captive power framework and regulatory considerations under prevailing electricity laws and related implementation provisions.

The transaction team consisted of Girish Rawat (Senior Partner), Akshara Grover (Senior Associate) and Sayali Dodal (Associate).

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