Shardul Amarchand Mangaldas & Co. advised Lloyds Metals & Energy Limited (“LMEL”) in relation to its strategic partnership with Hinduja Renewables Energy Private Limited (“HREPL”) for the development, ownership, and operation of a captive solar power project in Maharashtra, India.
HR Godavari Private Limited (the project SPV) comprises of two solar power plants: a 16.05 MWp (10.70 MWac) plant at Parbhani and a 70 MWp (50 MWac) plant at Baramati, aggregating to a total capacity of 86.05 MWp (60.70 MWac). The deal was signed on 19 May 2025 and is valued at USD 2.03 million.
This transaction is notable as it is structured to ensure full compliance with the Electricity Act, 2003 and the Electricity Rules, 2005, enabling LMEL to benefit from significant cost savings and green energy procurement while maintaining captive status. The deal demonstrates a robust, long-term (25-year) commitment to renewable energy, supporting LMEL’s decarbonization and sustainability goals.
The transaction team was led by Dnyanraj Desai, Partner; Subhojit Das, Principal Associate; and Aakaansha Arya, Associate.