Cyril Amarchand Mangaldas secures significant relief for ReNew Hydro Storage Pvt. Ltd. before the Madhya Pradesh High Court, enabling Renew’s participation in the ongoing bid process for procurement of 500 MW of energy storage capacity from ISTS-connected Pumped Storage Plants by MPPMCL. The dispute arose when Renew’s bid was rejected on technical grounds.
The interim relief granted by the High Court paves way for Renew to participate in the bid process. The order assumes significance as the matter was time sensitive, and any further steps in the bid process without including Renew’s bid would have rendered the entire process infructuous for Renew.
The transaction team was led by Vishal Binod, Partner; supported by Sagnik Maitra, Senior Associate; and Garima Adlakha, Associate.
