Dhir & Dhir advises IIFCL on Mihit Solar’s $23.8m solar project financing under its takeout financing scheme
India Infrastructure Finance Company Limited (IIFCL) has said to have provided a term loan of Rs. 156 crore (USD 23.8 million) to Gurugram based Mihit Solar Power under its Takeout Finance Scheme, for substituting the outstanding principal amount of the loan sanctioned by L&T Infrastructure Finance, for the purpose of developing and commissioning a 74 MW Solar Power Project in Mansa District, Punjab.
Dhir & Dhir Associates acted as the lenders’ legal counsel for IIFCL represented by partner Girish Rawat, who led the firm’s banking and project finance team along with senior associate Amit Prakash and associates Shobhit Batta and Amit Pal Singh. The transaction included drafting of financing and security documents, conducting due diligence, and issuing legal opinions.
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