Cyril Amarachand Mangaldas acted as legal counsel to ReNew Green Energy Solutions Private Limited (“RGESPL”) and ReNew Power Private Limited in connection with subscription of compulsorily convertible preference shares by a Mauritius-incorporated investment vehicle, Sycamore Inclusion Limited into RGESPL, a company engaged in the development and operation of renewable energy commercial and industrial (RE C&I) projects in India.
The majority of the shareholding in the investment vehicle is held by Leapfrog Investments, the pioneering private equity fund, with the remaining shareholding held by Emerging Market Climate Action Fund (EMCAF) and Carlyle AlpInvest.
ReNew Green operates one of India’s largest clean energy portfolios for businesses, with approximately 2.5 GW of committed capacity across multiple states. The investment will also strengthen its position in delivering sustainable energy solutions and expanding its footprint in India’s renewable energy sector.
The deal team was led by Surya Sreenivasan, Partner; with assistance from Kabir Manchanda, Principal Associate; Sneha Sharma, Senior Associate; and Kritika Patnaik, Associate.
Strategic inputs were provided by Santosh Janakiram, Senior Partner.
