Khaitan & Co Leads Osaka Gas Singapore To Foray Into India’s Renewable Energy Market
Khaitan & Co Leads Osaka Gas Singapore To Foray Into India’s Renewable Energy Market
It is a joint venture with Clean Max Enviro Energy Solution
Khaitan & Co has advised Osaka Gas Singapore, a wholly-owned subsidiary of Osaka Gas Co Ltd, Japan, a part of the Daigas Group in its entry into the Indian renewable energy market.
It is a joint venture (JV) with Clean Max Enviro Energy Solution.
Osaka Gas and Japan Bank for International Cooperation (JBIC) will form a consortium of DJ Renewables Pte Ltd in Singapore to enter the JV.
Post-closing, the JV company between JP Conso and Clean Max will be known as Clean Max Osaka Gas Renewable Energy Pvt. Ltd. While JP Conso will hold 49 percent shareholding in the JV Co, the remaining 51 percent will be held by Clean Max.
Clean Max will transfer the selected renewable energy projects to the JV Co, which hopes to own and develop at least 400 MW of assets within the next three years.
Meanwhile, Osaka Gas plans to explore a collaboration with Clean Max beyond the initial business to deepen in India's renewable space and pursue the possibility of new energies. These include green hydrogen and e-methane, which align with its Medium-Term Management Plan, 2026.
The partnership between Osaka Gas and Clean Max, along with the Daigas Group, established the City Gas Distribution business in India.
It highlights Osaka Group's plans to expand in the Indian energy business and contribute to the country's economic growth and decarbonization initiatives.
The Khaitan & Co core team guiding due diligence comprised Dibyanshu (Partner), Raja Kishore (Principal Associate) and Sathyajith Nair (Principal Associate).
They were supported by Prateek Bhandari (Counsel), Ishita Gupta (Senior Associate), Srijita Jha (Senior Associate) and Abhishek Sharma (Associate).
