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DLA, Khaitan, I&S close Indo-German solar power joint venture

german-flag_by-Julius
german-flag_by-Julius
DLA Piper’s new German hires and Khaitan & Co have advised photovoltaic company Gehrlicher Solar AG on its reported $5m+ joint venture with Indian green-tech company Greenforce Enviro, which was advised by Mumbai firm I&S Associates.

DLA Piper partners Benjamin Parameswaran and Daniel Sharma led the legal team for Gehrlicher, having joined DLA from German independents Hengeler Mueller and Heuking Kühn Lüer Wojtek in June of this year. They were assisted by Cologne senior associate Roland Hens.

Khaitan & Co Mumbai partner Arindam Ghosh and associate Abhishek Sinha provided Indian law advice to Gehrlicher.

Mumbai firm I&S Associates acted as Greenforce’s counsel, with partners Anu Iyer and associates Srabonee Roy and Bhumi Kothari.

Parameswaran, who with Sharma heads up DLA’s European India group, commented: “Our clients’ centre of business activity is continuously shifting to the east. It is quite obvious in this trend that India is a market of the future.”

“We are seeing increased activity in infrastructure and clean energy,” added Sharma. “Also automotive is picking up again into India [from Germany].”

Both companies in their joint venture will construct a solar project, which is a response to the Indian government’s Jawaharlal Nehru National Solar Mission, which plans for solar power achieving 20,000 MW capacities by 2020. The Economic Times reported a current investment of $5m in the deal.

Photo by Julius!

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