Cyril Amarchand Mangaldas has advised Inox Clean Energy and SkyPower Group including CIM Infrastructure Fund in relation to the sale of 100 percent of the shareholding in SkyPower Services MENA to Inox Clean Energy. Charles Russell Speechlys and Khaled Almarri & Partners acted as international counsels to SkyPower Southeast Asia Holdings 2 and Inox Clean Energy respectively.
Inox Clean executed this acquisition through an equal joint venture with RJ Corp, marking the expansion of Inox Clean’s renewable energy footprint in the Middle East and North Africa (MENA) region.
The JV aims to commission approximately 570 MW of renewable energy capacity in the first phase, with an overall target of about 2.5 GW of installed capacity in Africa by FY29.
CAM’s deal team guiding Inox Clean Energy on this transaction was led by partner and head – northern region Ajay Sawhney and partner Rachika A. Sahay, with assistance from principal associate Siddhant Satapathy, senior associate Mrinal Mishra and associate Govind Sharma.
CAM’s deal team guiding SkyPower Group was led by partner and co-head – projects (energy & energy transition) Ramanuj Kumar, and partner Aiswarja Mohanty with support from associate Rashika Bhardwaj.
