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The logo of Reliance Industries is pictured in a stall at the Vibrant Gujarat Global Trade Show at Gandhinagar, India, January 17, 2019. REUTERS/Amit Dave/Files

Khaitan & Co, AZB & Partners and K Law have advised Reliance New Energy Solar (RNESL) and Reliance Industries (RIL) on RNESL’s 36-billion-rupee ($489 million) acquisition of stake in Sterling & Wilson Solar which was represented by Desai & Diwanji.

According to Reuters, besides this deal, RIL is also acquiring Norwegian-headquartered solar panel maker REC Solar Holdings for $771 million from China National Bluestar (Group).

Owned by Asia's richest man, Mukesh Ambani, RIL plans to build solar capacity of at least 100 gigawatts (GW) by 2030, accounting for over a fifth of India's target of installing 450 GW by the end of this decade, Reuters added.

The Khaitan team was led by executive director Sudhir Bassi and partner Arindam Ghosh.

Partners Ashwath Rau, Anuja Tiwari, Pranav Atit and Nikunj Maheshwari led the AZB team.

 

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