NaBFID gives ₹4,000 crore to Avaada Group: Khaitan & Co on this deal

National Bank for Financing Infrastructure and Development (NaBFID) has sanctioned financial assistance aggregating to ₹4,471 crore to 4 SPVs of Avaada Group to refinance its existing lenders, in connection with solar power project located in Rajasthan.

Khaitan & Co acted as the lender’s legal counsel for NaBFID in relation to the deal.

The transaction team consisted of Dr. Siddarth Srivastava (Partner), Rashneet Kaur (Principal Associate), Shobhit Batta (Senior Associate) and Anwesha Dasgupta (Senior Associate).

This refinancing transaction encompasses four inter-state transmission system-connected solar projects with a combined capacity of 1,700 MWp. This is one of the largest refinance transactions ever conducted in India's renewable energy space.

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