AZB & Partners Advised Fortum India On The Sale Of Its Renewable Energy Platform To Hexa Climate Solutions

AZB & Partners advised Fortum India on the sale of its renewable energy platform to Hexa Climate Solutions

AZB & Partners advised Fortum India Private Limited (FIPL) in connection with the sale of shares of FIPL and its affiliates/subsidiaries in India to Hexa Climate Solutions, backed by New York’s I Squared Capital.

Through this deal, Fortum Oyj (Finland’s state-run energy utility) has exited India’s renewable energy market by selling its platform—FIPL along with its affiliates and subsidiaries, including its management company, carbon credits, and a 40-member team. The total portfolio included a 206 MW commercial and industrial renewable energy portfolio and an additional 600 MW of ready-to-build renewable energy projects.

The AZB & Partners team advising on the mandate comprised Anuja Tiwari (Senior Partner), Mallika Anand (Partner), Pranjal Bhattacharya (Counsel), Aman Raj (Senior Associate), and Munmun Kadam (Associate).

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