AZB & Partners advised DFC on Paryapt Solar on USD 25.5 Loan Facility
AZB & Partners advised DFC on Paryapt Solar on USD 25.5 Loan FacilityUnited States International Development Finance Corporation (DFC) has provided long term loan facility of USD 25.5 Million (approximately Rs. 1.91 Bn) to Paryapt Solar Energy Private Limited by way of an external commercial borrowing, for setting up a 50 MW solar plant in the state of Gujarat, India. DFC...
ToRead the Full Story, Subscribe to
Access the exclusive LEGAL ERAStories,Editorial and Expert Opinion
AZB & Partners advised DFC on Paryapt Solar on USD 25.5 Loan Facility
United States International Development Finance Corporation (DFC) has provided long term loan facility of USD 25.5 Million (approximately Rs. 1.91 Bn) to Paryapt Solar Energy Private Limited by way of an external commercial borrowing, for setting up a 50 MW solar plant in the state of Gujarat, India.
DFC was established in 2019 through the BUILD (Better Utilization of Investments Leading to Development) Act. The BUILD Act combined the capabilities of the Overseas Private Investment Corporation (OPIC) and the Development Credit Authority (DCA), which had previously been housed in the U.S. Agency for International Development (USAID).
The Board of Directors of DFC had approved the funding for the development of solar projects in India in 2020. The deal was concluded on May 5, 2021.
AZB & Partners advised DFC in the transaction. The team comprised of Gautam Saha and Pallavi Meena (Partners) and Pragya Sood (Senior Associate).
