Luthra and Luthra Law Offices has assisted Gorbea Solar on securing INR12.34 billion (USD147 million) in financing from Bank of America, MUFG Bank, the Hongkong and Shanghai Banking Corporation (HSBC), and Crédit Agricole Corporate and Investment Bank, India.
The financing will fund the development of a 300MWac greenfield solar photovoltaic plant in Jodhpur, Rajasthan.
Partner Karan Mitroo led the transaction team, with assistance from senior associate Surbhi Jain and associate Jhalak Gupta.
Gorbea Solar is a subsidiary of Zelestra Corporation. The facility qualifies as green financing under Zelestra’s framework and adheres to the Loan Market Association’s green loan principles.
