Dhir & Dhir Associates has acted as the Borrower’s Legal Counsel, to Fortum Solar India Private Limited, for the term loan facility aggregating up to INR 8780.00 Mill and working capital facility aggregating up to INR 420.00 Mill sanctioned by SBI for the purpose of repayment of the existing lenders of the borrower and for working capital requirements of the borrower (respectively) in relation to 250 MW AC solar power plants of 50 MW AC each at Pavagada, District Tumkur, in the State of Karnataka in the Pavagada Ultra Mega Solar Park constructed and implemented by Karnataka Solar Power Development Corporation Limited. One of the key factors of the transaction is the long-term low-cost financing benefits under the dedicated EUR 600 million renewable energy financing program of the European Investment Bank (EIB), as a result of a collaboration of EIB with State Bank of India. The team included Girish Rawat, Partner, Varun Chauhan, Senior Associate and Ashneet Chhabra, Associate.