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AZB, Cyril Amarchand lead on largest solar M&A deal: Tata Power acquires Welspun’s renewable energy assets

Bar & Bench

Tata Power has acquired the renewable energy subsidiary of Delhi-based Welspun Energy. It is estimated to be a 9,900-crore deal, making it the largest transaction in renewables in India.

Cyril Amarchand Mangaldas acted for Welspun with a team led by Infrastructure and Project Finance Partner L Vishwanathan and Corporate Partner Jaya Singhania.

AZB & Partners advised Tata Power with a team led by Partner Shameek Chaudhuri.

The portfolio Tata has bought comprises 990 Mw of solar power projects and about 150 Mw of wind power projects.

The assets of Welspun Energy have been on the block for a year; the interested companies included Japan’s SoftBank and Hero Future Energies and ReNew Power, reports Business Standard.