J. Sagar Associates (JSA) advised and assisted Netherlands based conglomerate, SHV Energy N.V. (SHVE), a part of the Dutch multi-national company SHV Holdings N.V., in connection with its acquisition of a majority stake in SunSource Energy, one of India’ leading solar solutions provider. SHVE would also be investing additional growth capital in SunSource Energy to help further expansion of its solar portfolio to 550+ megawatt peak (MWp) by 2023. The promoters of SunSource Energy will continue to remain shareholders in the company post-acquisition.
As part of this transaction, SunSource Energy’s original investor, Neev Fund, promoted by India’s largest commercial lender SBI and the UK Government, will be obtaining a successful exit.
JSA team comprised of Lead Partner – Gerald Manoharan, Partner – Manuel Jose, Senior Associate – Sonakshi Das, and Associates – Manas Ingle and Soujanya Gollapudi, on the corporate diligence and transaction aspects.
The diligence team additionally comprised of Principal Associate – Ayisha Mansoor and Associate – Prerana Damaraju.
Lead Partner – Vishnu Sudarshan, Partner – Megha Arora, and Associates – Rishabh Jha and Tinnish Sharma advised on the projects related aspects.
Partner – Bharat Bhushan Sharma and Associate – Mohit Aggarwal advised on the real estate aspects.
Partner – Vaibhav Choukse and Associate – Aditi Khanna advised on the competition law aspects.