ThomasLloyd Energy Impact Trust PLC (LSE:TLEP) agreed to acquire remaining 57% stake in SolarArise India Projects Pvt Ltd from Core Infrastructure India Fund Pte Ltd. managed by Kotak Mahindra (UK) Ltd. and Global Energy Efficiency and Renewable Energy Fund managed by Triodos Investment Management BV for $39 million on June 21, 2022.The leads to taking its total ownership of 100% in SolarArise India Projects Pvt Ltd.The consideration will be funded by existing cash resources. The acquisition of the remaining interest is expected to complete in the fourth quarter of 2022 following regulatory approval and other completion procedures. Shardul Amarchand Mangaldas & Co acted as legal advisor to Core Infrastructure India Fund Pte Ltd. & Global Energy Efficiency and Renewable Energy Fund. Where as Surya Sreenivasan and Ramanuj Kumar Cyril Amarchand Mangaldas acted as legal advisor to ThomasLloyd Energy Impact Trust PLC (LSE:TLEP).

ThomasLloyd Energy Impact Trust PLC (LSE:TLEP) completed the acquisition of remaining 57% stake in SolarArise India Projects Pvt Ltd from from Core Infrastructure India Fund Pte Ltd. managed by Kotak Mahindra (UK) Ltd. and Global Energy Efficiency and Renewable Energy Fund managed by Triodos Investment Management BV for $39 million on January 16, 2023.