“EverSource, NIIF buy stake in Ayana Renewable for $330 million: All three partners will invest $330 million cumulatively, according to a company statement,” reported The Economic Times.

The plan is to build a large scale renewable energy platform by focusing on developing utility-scale renewable energy projects in India, by the investors’ subscribing in a majority stake in Ayana Renewable Power. The investors and CDC Group plc are developing Ayana Renewable Power Private Limited to be among the largest renewable platforms in India, with further investments to follow in order to play an important role in India’s ambition to build 175 GW of renewable energy capacity.

Khaitan & Co advised EverSource Advisors Private Limited National Investment and Infrastructure Fund (NIIF) led by a team of partner Akhil Bhatnagar, principal associate Samridha Neupane, associate Rahul Rajendra Mishra and associate Jagata Swaminathan.

AZB & Partners acted for CDC Group and Ayana Holdings UK was advised by partners Darshika Kothari, Roxanne Anderson and Kunal Khumbat, and senior associate Shwetank Ginodia.

2019-03-29

Deal value: $330m

This deal report is based on a firm's press release and may be only partially complete. Some firms or names of advisers may be therefore be missing.