Electricity

Representative Matters

• Project Developers: such as GMR, Tata Power, Shapoorji Pallonji, GVK;
• Investors: such as Blackstone, IDFC, Merill Lynch, EDF, Skypower, Korean Western Power;
• Governmental entities: including Planning Commission of India, Ministries of the Government of India;
• Banks: such as State Bank of India, ICICI Bank, Axis Bank, Yes Bank.
• Acted for Bhilai Electricity Supply Company Pvt. Ltd.in connection with financing (aggregating INR 24460.8 Million) of its coal based expansion project in Chhattisgarh. in procuring the inter-state trading license from the Central Electricity Regulatory Commission. The Firm also advised for its purchase and selling arrangements for the proposed inter-state power trading business. The Firm prepared the risk matrix and advised on the payment mechanisms and the relevant credit risks associated with it. on a transaction relating to financing the acquisition of 50% stake in InterGen NV, one of the world’s leading independent power producers with approximately 12 power assets in 5 jurisdictions, for approximately USD 1.2 Billion. before the Hon’ble High Court in N.K. Garg vs. GoNCTD & Ors. pertaining to the scope and powers of the Government under Section 108 of the Electricity Act. in the Hon’ble Supreme Court and obtaining a stay on the order of the Hon’ble Appellate Tribunal. on a series of tariff appeals filed by distribution licensees (BSES Rajdhani and Yamuna Power Limited as well as North Delhi Power Limited) before the Hon’ble Appellate Tribunal for Electricity challenging the tariff arrived at and the methodology for arriving at the same from FY 2007-08 to 2009-10 including the MYT order of 2008-11.
• Advised Gujarat Electricity Regulatory Commission in drafting Regulations, Codes, Standards, Licenses and Guidelines (Open Access Code) under the Electricity Act, 2003 and the Gujarat Electricity Industry (Reorganization and Regulation) Act, 2003.
• Advised Gujarat Electricity Regulatory Commission in formulation of its Distribution and Transmission licenses, MYT Regulations, Consumer Grievance regulations and Open Access Regulations.
• Advised Himachal Pradesh Electricity Regulatory Commission in drafting its model power purchase agreements.
• Advised and represented Ind – Bharath Energies (Maharashtra) Limited before APTEL in a matter pertaining to certain disputes arising out of its PPA with MSEDCL.
• Advised and represented Jamshedpur Utilities and Services Company Ltd. before the Appellate Tribunal for Electricity on the scope of the Hon’ble Tribunal’s Appellate powers in respect of an order rejecting a review Regulatory Commission for adjudication of certain disputes with Punjab State Power Corporation Limited.
• Advised Merrill Lynch Commodities with respect to proposed acquisition of a minority stake in a 600 MW coal based thermal power plant and conducted extensive due diligence on the project company. The Firm was involved in Reviewing and commenting on various project documents including the Implementation Agreement with the State Government and the draft Power Purchase Agreement. Advised Vemagiri Power Generation Limited in relation to the development of a gas based power project set up at Vemagiri, Andhra Pradesh, on a BOO basis. The Firm acted as Project Counsel in all aspects including the vetting of the PPA and assisted in negotiation for amendments. The Firm assisted in negotiation and drafting of the EPC contract with L&T.
• Advised Moser Baer Projects Private Limited in a USD 300 Million investment by Blackstone Capital Partners in a company which had investments in multiple power projects. This has been hailed as one of the largest investments by a single private equity investor in the power sector.
• Advised Moser Baer in relation to an MoU and IA to be entered into with the Government of Madhya Pradesh in relation to 1200 MW power plant to be set up in Madhya Pradesh. The Firm also advised in relation to the power purchase agreement to be entered into between the project company and the MPP Tradeco.
• Advised Shapoorji Pallonji in connection with a power purchase arrangement (800 MW entered into with GUVNL for procurement of power by GUVNL on a long term basis from the 1320 MW power project being set up at Junagarh, Gujarat.
• Advised Talwandi Sabo Power Limited in connection with filing of a petition in Punjab State Electricity Commission. on a series of regulatory matters including interpretation and application of Net Metering Regulations, Renewable Purchase Obligations, Supply Code Regulations, MYT Regulations, and income from business other than licensed business, National Tariff Policy, National Electricity Policy, Regulatory Assets, powers and scope of the CAG. and represented Tata Power Delhi Distribution Limited before the DERC in relation to disputes between Gencos as well as Transco in terms of the PPA and transmission agreements.
• Advised Tata Power in relation to the O&M agreements for 2400 MW Power Plant and 80 MW captive power station with the owners of the power stations.
• Advised and represented Vemagiri Power Generation Limited, a GMR Group company, before APTEL in a matter pertaining to certain disputes arising out of its PPA with the state distribution companies.
• Advised the Government of India through National Council for Applied Economic Research (NCAER), India’s premier economic research institution, on the various drafts of the Electricity Bill (now, The Electricity Act, 2003) and suggested modifications thereto.
• Advised one of the largest Korean corporations with respect to their investment in a hydro power project located in Nepal which would be exporting electricity to India.
• Advised a major Indian power player on establishing two biomass fired power projects of 10 MW each in Rajasthan including conducting due diligence on the legal and regulatory framework and analysis of the power purchase agreement with the state electricity utility.
• Advised an international bidder in connection with its bid for solar power projects in the states of Madhya Pradesh and Telangana.
• Advised and represented Welspun Urja Gujarat (P) Limited, Green Infra Solar Energy Limited, Azure Power (Haryana) Private Limited and Palace Solar Energy (P) Limited before the Gujarat Electricity Regulatory Commission (GERC) in relation to a petition filed by Gujarat Urja Vikas Nigam Limited inter-alia seeking downward revision of generic solar tariffs fixed by the GERC and re-opening of concluded PPAs based on such generic tariff. The Firm also represented the power producers before the Appellate Tribunal for Electricity (APTEL).

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Lina Braude, Partner, Baker McKenzie LLP