GE India Energy Investments B.V., post its investment in convertible instruments issued by Morjar Windfarm Development Private Limited (MWDPL), is expected to hold approximately 49% stake in the company on a fully diluted basis.
A global infrastructure fund managed by Morgan Stanley Infrastructure Inc. will continue to indirectly hold the remaining 51% stake.
Trilegal represented GE in the deal.
The deal was led by Partners Vaibhav Kothari (Corporate), Nayantara Nag (Projects) and Rahul Arora (Real Estate), with the assistance of Hema Priyadarshini Patnaik (Counsel), Riyaz Bhagat (Counsel), Anirudh Banga (Senior Associate), Kriti Tuteja (Senior Associate), Ruhani Khanna (Senior Associate) and Pranav Butalia (Associate).
MWDPL is developing a 148.5-MW onshore wind power generation project in Kutch, Gujarat, which is to be connected to the Bhuj-II substation owned and operated by the Power Grid Corporation of India Limited.