Yes Bank’s wholly owned subsidiary - Yes Securities has acted as an exclusive advisor to Fonroche Energie SAS for sale of 22.3 MW Solar projects in Rajasthan. Fonroche Energie SAS, a France based renewable energy developer has completed monetization of its wholly owned Indian subsidiaries Fonroche Saaras Energy (FSEPL) and Fonroche Raajhans Energy (FREPL) to Hinduja Group. Yes Securities’ Sustainable Investment Banking Team (SIB) acted as the exclusive advisor to Fonroche for this landmark transaction.
FSEPL and FREPL cumulatively own and operate 22.3 MW solar projects in Gajner, Rajasthan commissioned during 2013 under National Solar Mission Phase I, Batch 2. These projects have been consistently ranked as the top performing projects setup under the Jawaharlal Nehru National Solar Mission (JNNSM) scheme. This is one of the few cross border Mergers & Acquisitions (M&A) transaction in the solar energy space, a sector which has seen significant capacity addition over the last few years.
Solomon & Co. acted as the legal advisor to Fonroche and Fortitude Law Associates acted as the legal advisor to Hinduja Group for the transaction.
