Tata Capital Limited (formerly known as Tata Cleantech Capital Limited) has granted structured project financing facilities to two other Indian subsidiaries of Germany based Enerparc Group engaged in the solar renewable energy projects sector.

Tata Capital Limited granted structured project financing facilities to two more Indian subsidiaries of Enerparc Group for the development of a 5 MW rooftop/ behind-the meter solar power plant and a 30 MW rooftop/ behind-the meter solar power plant respectively.

The two transactions were structured on co-obligor basis amongst the Indian subsidiaries and the Germany based parent entities. The German parent entities provided various securities including hypothecation and pledge to ringfence the onshore borrowings of its Indian subsidiaries, in addition to the customary securities provided by each of the Indian borrowers.

Krishnamurthy & Co. (KLaw) advised Tata Capital Limited as the lenders’ legal counsel for the two project financing transactions. This was the fifth and sixth time respectively KLaw advised Tata Capital Limited in relation to granting structured project financing facilities to various Indian subsidiaries of Germany based Enerparc Group for its solar power project development in India.

KLaw structured the project financing transactions and drafted, negotiated, and finalised all the financing and security documents for the aforesaid transactions, in addition to advising the lender on various legal and regulatory issues in connection with the cross-border transactions. Taylor Wessing (Hamburg office) advised Tata Capital Limited on the German law related aspects and KLaw co-ordinated and worked closely with them in relation to negotiating and closing the German law governed documents.

The transaction was led by KLaw Partner, Zeeshan Khan and assisted by Anirban Roy Choudhury (Senior Associate) and a team of associates.