IndusLaw,
Shearman & Sterling and Neupane Law Associates advised the Dutch
development financing institution, FMO and a consortium of lenders on the $142.5m financing of the proposed 82 MW Nepalese
Lower Solu hydropower project.
The
Nepalese company Essel-Clean Solu Hydropower and the Indian company Essel
Infraprojects, which will develop the project together, were advised by Clifford
Chance.
Indus
partner Ran Chakrabarti and associates Chitvan Bakshi and Anant Mishra,
Shearman London partner John Inglis, senior associate Suzanne Szczetnikowicz,
associates Josephine Du Sauzay, Amy Crocker-White, Catherine Kempsey and
trainee Ruba Ameen and Neupane Kathmandu partner Anjan Neupane acted for the
lenders.
Clifford
Chance Bangkok partners Joseph Tisuthiwongse and Matthew Buchanan, counsel
Anton Trixl and senior associates Kamil Gérard Ahmed and Danielle Brown acted
for the borrowers.
The
Lower Solu Project is the largest private sector energy project and the first
private financing in Nepal undertaken by both international and domestic
lenders, stated a Clifford Chance’ press release.
Nepal
has one of the largest untapped hydropower resources in the world, estimated at
over 80,000MW, but the country also has one of the world’s lowest electricity
consumption rates marked by power cuts of up to 18 hours a day in the dry
season coming in the way of sustainable economic growth, according to the press
release of one of the lenders.
Source:-
www.legallyindia.com
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