Norton Rose Fulbright and Khaitan & Co. have represented a consortium of foreign investors on the creation of a fund that aims to invest in Indian energy assets along with local entities Tata Power and ICICI Venture, which were counseled by Akin Gump Strauss Hauer & Feld and AZB & Partners.
The consortium includes Canadian pension fund Caisse de Depot et Placement de Quebec (CDPQ), as well as sovereign-wealth funds Kuwait Investment Authority (KIA) and State General Reserve Fund (SGRF) of Oman.
The platform, which initially plans to raise $850 million will invest in thermal and hydro power assets in India over the next two or three years. It will allow investors to expand their presence in the world’s fifth-biggest electricity-producing nation, and boost their investment portfolio in the Indian infrastructure ecosystem.
The Norton Rose Fulbright team was led by Singapore-based corporate partner Sheela Moorthy.
