Dhir & Dhir Associates has acted as lenders’ legal advisor to Power Finance Corporation Limited and Indian Renewable Energy Development Agency Limited for the due diligence and documentation pertaining to financial assistance in form of rupee term loan of up to INR 1635.5 Million sanctioned to Goodwatts WTE Ahmedabad Private Limited (a wholly-owned subsidiary of Abellon Cleanenergy Limited) for the purpose of designing, building, constructing, operating and maintaining 14.9 MW waste to energy power project based on municipal solid waste at Shahwadi Village, Ahmedabad District in the state of Gujarat.

The team included Girish Rawat, Partner, Amit Prakash, Principal Associate, Srivar Awasthi, Senior Associate, and Vaibhav Shrivastav, Associate. The scope of work included reviewing concession agreement and other project-related documents, conducting due diligence of the borrower company, drafting of the resolutions and certificates as per precommitment conditions of the sanction letters, drafting of the financing and security documents and issuing opinion on the legal issues.