HSA Advocates advised ACME Solar on the divestment of 100 MW of solar assets to Amplus Energy for an aggregate value of INR 8 Billion (~USD 109 Million)

| Sep 2020 |

HSA advised ACME Solar Holdings (ACME) on the divestment of 2 (two) solar power plants with a total capacity of 100 MW at the Pavagada Solar Park in Karnataka to Amplus Energy Solutions (backed by Petronas) for an aggregate value of INR 8 Billion (~USD 109 Million). This deal is ACME’s second asset sale to date and involves the sale of 100% economic interest in the SPV holding of two solar power plants.

ACME Group is one of India’s fastest-growing companies in the solar energy sector having a portfolio of 5 GW and Amplus is a member of Petronas and owns and manages a portfolio of 650+ MWp of operational and under construction distributed solar assets across India.

HSA provided full transaction support to ACME by assisting in reviewing, negotiating and finalizing the transaction documents along with advising on the ancillary aspects of the transaction. HSA team was led by Sunando Mukherjee (Partner) along with Krishaal Morjaria (Associate) and Shruti Sundararajan (Associate). Amplus Energy Solutions was advised by L&L Partners.