JSA, Shardul Amarchand Mangaldas & Co (SAM), Baker McKenzie, Khan Corporate Law, Desai Law Group and Erriah Law Chambers have advised on Jindal Energy Botswana’s financing of a greenfield thermal power project in the southern African nation for USD1 billion.
JSA acted as lead counsel to Jindal Energy Botswana in the financing deal with a consortium of lenders, comprising Axis Bank, ICICI Bank, IDFC FIRST Bank, RBL Bank, YES Bank, Export-Import Bank of India, IndusInd Bank and Axis Trustee Services. Partner Karan Mitroo led the JSA team, with the support of partner Ankita Parasar, principal associate Samarth Sharma, associate Harshil Kakkar and paralegal Supriya Saxena.
SAM counselled the consortium of lenders on India law matters, with partner Anurag Dwivedi leading the team, with partners Anoop Rawat and Saurav Panda. Principal associate Megha Kaur, senior associate Shashwat Bhaskar, and associates Aparna, Amogh Mittal and Ananya Khanna assisted the team.
Baker McKenzie and Khan Corporate Law acted as international counsel to the lenders. Desai Law Group and Erriah Law Chambers acted as international counsel to the borrower.
Jindal Energy Botswana, which is a subsidary of 含羞草社区 Jindal Power, is developing the Mmamabula Energy Project, a major 700MW coal-fired power plant and integrated coal mine in the southern Afican nation.
The transaction was one of the most significant financings of a thermal power project in Botswana, JSA said in a statement.
Botswana was still a developing jurisdiction for cross-border financings of this scale, making the security structure and documentation of the transaction quite complex, said the JSA statement.
