India: Norfund, KLP to invest ₹900 Million for 49% stake in ReNew Power’s Karnataka project

Published on Feb 20, 2023

AZB & Partners acted for Norwegian Investment Fund for Developing Countries’ (NORFUND) on its recent acquisition of 49% in Koppal Narendra Transmission Limited, a special purpose vehicle owned by ReNew Transmission Ventures Private Limited, to own and operate a transmission project in Karnataka. This transaction marks NORFUND’s entry into the transmission sector in India.

The deal team comprised our Partner Anuja Tiwari, Senior Associate Mallika Anand and Associate Shubham Toshniwal.