CMS INDUSLAW advises IREDA on sanctioning ₹200 crore for Uttar Pradesh solar project

Indian Renewable Energy Development Agency Limited (IREDA) has sanctioned a term loan facility of ₹200 crores to a prominent renewable energy developer to part-finance the development and implementation of a 65.7 MW Solar Photovoltaic Power Project set up across 11 locations in Uttar Pradesh.

CMS INDUSLAW advised IREDA on structuring, negotiation, and execution of financing documents for a term loan facility. The Firm conducted title due diligence of project lands spread across the 11 project locations in Uttar Pradesh, along with the drafting, structuring, and negotiation of the facility agreement and a comprehensive suite of security documents.

The transaction team was led by Kshitij Bishnoi (Partner) and Gautam Kumar Bhargava (Partner), with support from by Yogendar Singh (Senior Associate) and Kartik Madaan (Associate).

The project has been awarded under the PM-KUSUM Scheme (Component C) and has a total estimated project cost of ₹334.52 crore.

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