Tribe Verified· Advised on ₹1,787 Cr renewable energy deal.

Legal Structuring for Green & Sustainable Finance Projects

byKrishnava DuttConsults online and across India; Offices in Mumbai, Delhi, Bengaluru & KolkataStarts from₹1,50,000 Per OpinionView full gallery

We bridge the gap between complex energy regulations and your corporate sustainability goals, helping you navigate everything from Green Hydrogen policy to Group Captive power arrangements.

I advised Dalmia Polypro Industries on securing a USD 30 million external commercial borrowing from the U.S. International Development Finance Corporation (DFC). This cross-border financing is for a new greenfield recycling facility in Maharashtra, a project that supports a circular plastic waste value chain and showcases my expertise in sustainable project finance.

I advised BluPine Energy on securing INR 1,787 crore in term loan facilities from NaBFID for its renewable energy projects. This complex transaction involved optimizing the financial structure for 14 separate special purpose vehicles (SPVs) to enhance their credit profile and reduce financing costs, highlighting my project finance capabilities.

I advised Henkel Adhesives India on establishing a captive renewable energy arrangement with CleanMax. This deal involved structuring a power purchase agreement and a 26% equity acquisition in the solar project's SPV, enabling Henkel to move closer to its carbon-neutral manufacturing goals.

I advised Tata Steel on its 26% equity investment in one of India's largest industrial round-the-clock (RTC) hybrid renewable power projects. This deal, structured under the Group Captive Regime, is a key part of Tata Steel's strategy to achieve its net-zero target by 2045 and shows my experience in green energy project investments.

At the 16th GRIHA Summit, I participated in a panel discussion on "Incentives for a Low-Carbon Future." I emphasized the critical role of green finance and sustained incentives to drive necessary investment and growth in the sustainable building sector.

During the "Green Hydrogen in India" conference, I discussed the key policy drivers attracting corporate clients to the green hydrogen sector. I explained how government initiatives, such as the Green Hydrogen Mission and ISTS charge waivers, have provided the necessary confidence for companies to invest and position themselves in this emerging market.

I was pleased to author the India chapter for The Legal 500's Country Comparative Guide on Renewable Energy. This contribution provides an in-depth overview of the legal and regulatory landscape for solar, wind, and green hydrogen projects in India.

Speaking at the conference on Net Zero Strategies, I analyzed India's green energy procurement framework for corporates. I addressed key challenges like regulatory uncertainty and complex policies, while also highlighting government relief measures designed to promote corporate investment in renewable energy.

Here are some moments from the 'Net Zero Strategies and Green Power Procurement for Corporates' conference. I shared my insights on the legal frameworks that support corporate sustainability goals and the procurement of renewable energy.

I was a featured speaker at the 'Net Zero Strategies and Green Power Procurement for Corporates' conference. My session focused on the legal and regulatory aspects of corporate net-zero strategies and how to navigate them effectively.

About Green & Sustainable Finance

Navigating the Group Captive regime for renewable energy projects requires more than just standard contract drafting. It demands precise alignment between your capital structure, shareholding patterns, and state-specific electricity regulations. We ensure your equity investments and Power Purchase Agreements are structured to satisfy regulatory audits while meeting your long-term decarbonization targets.

Our work in the green and sustainable finance sector goes beyond providing standard legal opinions. We operate at the intersection of evolving regulations and industrial needs, helping clients execute deals that withstand scrutiny from both regulators and financial institutions.

Project Finance & Capital Raising

We advise on complex financing arrangements for renewable energy projects. This includes structuring cross-border loans for greenfield recycling facilities, such as our work with Dalmia Polypro on their USD 30 million borrowing, and securing multi-crore term loan facilities for renewable portfolios, like the INR 1,787 crore financing for BluPine Energy. We focus on optimizing the financial structure of Special Purpose Vehicles (SPVs) to enhance credit profiles.

Corporate PPA & Renewable Energy Procurement

We assist corporates in transitioning to carbon-neutral manufacturing. This involves negotiating and drafting captive Power Purchase Agreements (PPAs) and structuring equity acquisitions in solar SPVs. For instance, we helped Henkel Adhesives India structure a captive arrangement with CleanMax that integrates seamlessly with their carbon-neutral goals. Our experience covers Industrial Round-the-Clock (RTC) hybrid projects, ensuring these structures comply with existing Group Captive rules.

Regulatory Advisory & Policy Advocacy

The regulatory landscape for green energy, particularly for emerging sectors like Green Hydrogen, is in constant flux. We provide actionable advice on government policy drivers, including ISTS charge waivers and the National Green Hydrogen Mission. Our team keeps clients updated on key regulatory changes, ensuring their procurement strategies remain viable even when policies evolve.

Why Partner With Us

Our approach is grounded in direct, partner-led involvement. We do not just review documents; we engage in the negotiation of covenant clauses and Conditions Precedent to ensure financial disbursement and project viability. Whether you are dealing with NCLT matters or negotiating with lender counsel, we provide the technical depth required to manage risk and deliver results.

Advised on ₹1,787 Cr renewable energy deal. — Approved by the tribe

Krishnava Dutt

Consults online and across India; Offices in Mumbai, Delhi, Bengaluru & KolkataStarts from ₹1,50,000 Per Opinion

At Argus Partners, we bring a hands-on, analytical approach to energy and sustainability law. Our team works directly with leadership to turn complex regulatory hurdles into viable business strategies, ensuring your green energy investments are both legally secure and commercially sound.