Gorbea Solar, a subsidiary of Zelestra Corporation S.A.U., secures substantial funding from major banks to advance renewable energy initiatives in India.
Luthra and Luthra Law Offices India recently provided legal counsel to Gorbea Solar Private Limited, a subsidiary of Zelestra Corporation S.A.U. (formerly Solarpack Corporacion Tecnologica S.A.), in securing ₹1,229 Crore in financial assistance. This funding was obtained from Bank of America, MUFG Bank Ltd., The Hongkong and Shanghai Banking Corporation (HSBC), and Crédit Agricole Corporate and Investment Bank. The financing is aimed at developing a 300MWac greenfield solar PV plant in Jodhpur, Rajasthan.
This initiative underscores Zelestra’s dedication to promoting renewable energy solutions in India. The financing falls under Zelestra’s Green Financing Framework and complies with the Green Loan Principles established by the Loan Market Association.
The transaction was spearheaded by Partner Karan Mitroo, with support from Senior Associate Surbhi Jain and Associate Jhalak Gupta.
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