Law firms have dived into the energy and natural resources sector in India. This is a positive change as the world must look into renewable energy and natural resources must be used cautiously. The laws in this sector must be read and implemented thoroughly and law firms must ensure that. The best law firms in the energy and natural resources sector in India are as follows –
- Cyril Amarchand Mangaldas –
In the renewable energy sector, Cyril Amarchand Mangaldas is one of the first names to be called upon. One of India’s leading law firms in all sectors, Cyril Amarchand Mangaldas (or CAM) has extensive experience in the dealings of infrastructure sectors including power, airports, oil and gas, and is also very much capable of advising clients on regulatory aspects of large scale energy projects, and mandates pertaining to renewable energy projects.
Work Highlights of CAM in the energy and natural resources sector :
- Cyril Amarchand Mangaldas was an Indian legal counsel to a consortium of lenders, led by the SBI on the implementation and formulation of a plan that involved the acquisition of the SKS Power Generation Limited (Chhattisgarh) and the settlement of all obligations of the same in relation to the debt facility by the lenders, which was approximated at $826 million.
- The firm has been on a consortium of 18 lenders, led by the State Bank of India on one of the largest transactions ($859 million) in terms of size of the debt, to resolve problems of stressed power companies.
- The firm acted as lender’s counsel for YES Bank Limited on the issue of financial assistance of $874 million being granted by YES Bank Limited for financing India’s first national highway project developed on a TOT basis (toll, operate and transfer) undertaken by nine borrowers and promoted by Macquarie Group.
- The firm assisted the acquisition of the Mumbai Power business of Reliance Infrastructure Limited consisting of the electricity distribution, transmission and generation business, by Adani Transmission Limited for $1.7 billion.
- CAM has also assisted and advised the International Finance Corporation, YES Bank Limited and L&T Infrastructure Finance Company Limited, as lenders on the $256 million financing granted to Arinsun Clean Energy Private Limited and Mahindra Renewable Private Limited for setting up an ultra-mega solar power project in Rewa, Madhya Pradesh.
- Economic Laws Practice (ELP) –
ELP provides comprehensive legal services covering all issues from the inception of a project up to the financial close, construction and operation. The firm has expertise in transaction and investment structuring along with a deep understanding of project documentation. The firm also has immense experience in acting as foreign counsel to international and multinational clients in other sectors too. One of ELP’s strongest suits is the record handling of infrastructure disputes. It has recently dived into the field of nuclear energy.
Work Highlights of ELP in the energy and natural resources sector :
- ELP assisted Somerset India Healthcare India Fund and Fund II, with their investments in the healthcare and hospital space sector in India and the work involved in conducting due diligence on target companies and negotiating transactions.
- The firm has assisted Exide Industries Limited in its investment in CSE Solar Sunpark Haryana Private Limited which would be used by Cleantech for setting up captive solar power projects.
- The firm advised Hindustan Infralog Limited on the proposal for a co-developer for development, its selection, operation and maintenance of processing zones and trade warehousing at the Special Economic Zone at Jawaharlal Nehru Port.
- The firm advised INKEL Limited, minority shareholder in Calicut Express Private Limited, on the latter’s entry in a concession agreement with NHAI, that is National Highways Authority of India on the construction and operation of National Highway number 66 in Kerala in a hybrid annuity or design, build, operate and transfer basis.
- ELP has assisted Chips Health Limited, a Cayman Islands company with its 53.42% acquisition of fully diluted shares as target by the process of share subscription, which included performing due diligence on target companies and their subsidiaries.
Founded by Hemant Sahai, HSA Advocates is a well established law firm handling large scale projects including roads, airports, oil and gas, conventional as well as renewable energy transactions. The firm has experience in the project finance and PPP market in India. It is also involved in multiple multinational projects ranging across Asia, Africa and South America.
Work Highlights of HSA Advocates in the energy and natural resources sector :
- HSA Advocates has advised City Industrial Development Corporation Limited on all aspects regarding the Navi Mumbai International Airport project. It is, currently, the world’s largest Greenfield PPP Airport.
- HSA Advocates has acted as legal counsel to the Ministry of Road, Transport and Highways, and NHAI (National Highways Authority of India), advising on the drafting and implementation of the bidding documents for the award of the first bunf=dle of nine toll national highways on TOT (toll, operate and transfer) basis.
- The firm has worked with Mumbai Port Trust on the potential termination and other related aspects of the license agreement for the OCT Project, due to non consensus between the Parties.
- The firm has worked on a $400 million project with the Ministry of Economy and Finance, Kingdom of Cambodia on an O&M arrangement for establishment of a warehouse network for rice/paddy as collateral financing arrangement for users in Cambodia.
- HSA Advocates has acted as legal advisers to the NITI Aayog on preparing a model concession agreement for supply, operation and maintenance of electric buses in urban areas in a public private partnership.
J Sagar Associates is recognized for working on cutting edge projects advising on the development of new model structures and forms of concession in aviation, railways, mining, oil and gas. J Sagar Associates also specializes in M&A transactions, joint ventures in the infrastructure sector, project development in association with smart cities, municipal infrastructure and telecoms as well as representing clients before regulatory authorities.
Work Highlights of J Sagar Associates in the energy and natural resources sector :
- The firm has advised AAI, that is the Airport Authority of India on the privatization of six airports under the new civil aviation policy which was approximately valued at $1 billion.
- Estimated at a value of $1.2 billion, the firm advised the Pune Metropolitan Regional Development Authority and the government of Maharashtra on the private delivery of the metro rail project which was to be the first PPP based project under the New Metro Policy 2017.
- The firm has advised and assisted the State Governments of Gujarat, Maharashtra, Odisha, Telangana on first of their kind public electronic auctions of mineral blocks granting mining leases and composite licenses.
- Successfully represented Tata Power Delhi Distribution Power before the Supreme Court of India in defining the roadmap and legal framework of the Comptroller and Auditor General of India in the audit of private entities engaged in public utility services.
The team of Majumdar and Partners is well experienced across Greenfield and brownfield projects, project finance as well as EPC contracts and concession agreements. The team also undertakes advisory and regulatory work in oil and gas, ports, roads and renewable energy sectors.
Work Highlights of Majumdar and Partners in the energy and natural resources sector :
- The firm advised Elementis Holdings Limited on its EPCM contract concerning a new Greenfield factory in India and all the work including assisting with the deal structure, tax matters and contracts.
- The firm has been involved with Givaudan Private Limited on the establishment of a manufacturing plant based in Pune, Maharashtra.
- Majumdar and Partners deal with the India operations of Schlumberger.
- Link Legal - India Law Services – The firm mainly deals with infrastructure projects and provides end-to-end services from the bidding stage to contracting, financing, restructuring and regulatory and dispute resolution. Link Legal works in, but is not limited to, roads, airports, railways, smart cities and infrastructure investments trusts.
Work Highlights of Link Legal in the energy and natural resources sector :
- The firm advised Mahindra Susten Private Limited on the negotiations of the EPC Contracts in relation to the first utility scale renewable energy plant in Skaka, Saudi Arabia.
- The firm has advised GAIL on the bidding for the renewable energy assets of an infrastructure company. GAIL is the largest state owned natural gas processing and distribution company in India.
- The firm has also worked with Global Infrastructure Partners India LLP on all legal and regulatory issues relating to the privatization of six brown-field airports in India.
- Advising Rapid Metro Rail Gurgaon Limited and Rapid Metro Rail Gurgaon South Limited on issues arising out of the concession agreements for the development of a metro link on a design, build, finance, operate and transfer basis.
- Advising the National Industrial Corridor Development & Implementation Trust (NICDIT) on all legal and regulatory aspects relating to airport development in India along with drafting of the shareholders agreement to be executed between AAI, government of Gujarat and NICDIT for the development of a Green-field airport.
- Shardul Amarchand Mangaldas & Co. –
Shardul Amarchand Mangaldas & Co. or also known as SAM is at the forefront for project finance and PPP projects. The firm deals in services including, but not limited to covering power purchase and concession agreements, EPC contracts, work in the areas of oil and gas, power, airports, roads, ports, and railways. The firm has particular excellence in LNG sale and purchase agreements, and also advises on debt reconstruction and restructuring.
Work Highlights of SAM in the field of energy and natural resources :
- The firm acted as legal counsel for Invenire Energy Private Limited (Atyant Capital Management Limited, Atyant Capital Fund I and its affiliates) for the acquisition of TATA Petrodyne Limited, the oil and gas branch of the TATA group.
- The firm has acted as advisory on the arrangement of the petroleum reserve base in Mangalore, between Abu Dhabi National Oil Company and Indian Strategic Petroleum Reserves Limited.
- SAM has also advised on the bidding for exploration and production of oil and gas in Abu Dhabi, UAE for Bharat Petro Resources Limited which is a wholly owned subsidiary company of Bharat Petroleum Corporation Limited.
- The firm worked on advising Brookfield Asset Management Inc., Brookfield Infrastructure Partners L.P. and other affiliates collectively known as ‘Brookfield’ on the acquisition of the East West Pipeline, a cross country pipeline between Kakinada in Andhra Pradesh and Bharuch in Gujarat, from a Reliance Group Company, the East West Pipeline Limited.
Khaitan and Co. has expertise in transactions, project and structured financing, bid support and regulatory advisory across orders in the energy, infrastructure and resource sectors. The firm also has long standing clients in the oil and gas sector and also clients looking to navigate India’s renewable and hydro-power energy markets.
Work Highlights of Khaitan and Co. in the energy and natural resources sector :
- The firm advised TNB Topaz Energy Sdn. Bhd. on its investment in GMR Bajoli Holi Hydropower Private Limited, which is engaged in the construction and development of a run-of-river hydroelectric power project of up to $32million by way of subscription to compulsorily convertible debentures and equity shares.
- The firm advised Torrent group on its investment in several city gas distribution projects in India. The firm also assisted in structuring, drafting, negotiation and finalization of developing the gas supply agreements for sale of gas.
- The firm advised CESC Limited on its appointment as a distribution franchisee of Maharashtra State Electricity Distribution Company Limited post award of letter of intent, for the distribution and supply of electricity in Malegaon Urban I, II & III sub-divisions and five villages of Malegaon Rural Sub-Division under Malegaon Circle.