SunEdison Solar B.V. has acquired 49% of the shareholding of Rain Coke Limited from Rain Cements Limited, with Cyril Amarchand Mangaldas acting as their legal counsel. Rain Coke Limited is the Special Purpose Vehicle for the much awaited solar project in Andhra Pradesh.The Cyril Amarchand Mangaldas team which facilitated the transaction was led by Mumbai based Projects and Corporate partners Santosh Janakiram and Yashojit Mitra, respectively, with the deal being signing last month and first closing occurred on September 2, 2015.Rain Industries Limited had executed a Power Purchase Agreement with Southern Power Distribution Company of Andhra Pradesh for a 22 MW Solar Power Plant in Dharmavaram, Anantapur District, Andhra Pradesh. APSPDCL had accorded consent to the Company to set-up the Solar Project through a Special Purpose Vehicle, Rain Coke Limited. It had then decided to partner with SunEdison, Inc. in the Solar SPV for setting-up the Solar Project.SunEdison is the world’s largest renewable energy development company and has expertise in setting-up and operating Solar Power Plants across the world.
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Cyril Amarchand Mangaldas facilitates Acquisition of Rain Coke Limited by SunEdison Solar BV for Solar Project in AP have 247 words, post on www.livelaw.in at September 3, 2015. This is cached page on Law Breaking News. If you want remove this page, please contact us.