JSA Advocates & Solicitors (JSA) advised YES Bank Limited and Central Bank of India in connection with financing of a 69.3 MW hybrid power project comprising 69.3 MW wind capacity (3.3 MW x 21 WTG) and 49.82 MW / 69.50 MWp solar capacity in Gujarat, set up by a project company of the First Energy group.
This financing was by way of multiple banking arrangement unlike the customary consortium backed funding. Each lender had its unique commercials and all stakeholders had to be convinced on common structure and priorities prior to documentation.
The team responsible for the deal was actively engaged in the review and diligence of all relevant project documents, including review of key agreements, terms, and conditions to ensure alignment with financing requirements.
Throughout this transaction, the team conducted multiple calls with all stakeholders ensuring timely and precise closure of documentation, with particular attention to meeting of all conditions precedent, enabling smooth disbursement and the successful execution of the deal.
The JSA team was led by Karan Mitroo, Partner with support from Samarth Sharma, Principal Associate; Harshil Kakkar, Associate; Supriya Saxena, Junior Associate; Vristi Garg, Junior Associate and Kaynaat Rana, Paralegal.