Cyril Amarchand Mangaldas, Hogan Lovells and Allen & Gledhill have advised SunEdison on its acquisition of Mumbai-based Continuum Wind Energy, which was represented by BMR Legal, Wong Partnership and Davis Polk.
According to the Economic Times, the buyout is the biggest in the clean energy sector in the country so far, valuing Continuum Wind Energy at between 37.2 billion and 39 billion rupees ($620-650 million). The newspaper added that the Indian government plans to add 100 GW (100,000 MW) of renewable capacity by 2022, up from 20 GW now.
Continuum Wind Energy currently has 170 MW of projects under construction, with approximately 1200MW of projects in the pipeline and 245MW operational projects in India. SunEdison Inc is the largest renewable energy development company in the world by generation capacity.
The Cyril Amarchand Mangaldas team was led by Mumbai partners Santosh Janakiram and Smruti Shah, with partner Nisha Uberoi advising on the competition law aspects.
