Ahana Renewables, a specialized investment firm with headquarters in San Francisco, has purchased the development business of Armstrong Energy Global, a developer, builder and owner of solar farms in India.
Ahana has retained the Armstrong management team to oversee the development, construction and operation of solar energy projects in southern India through a newly established company, Vibrant Energy Holdings, which will be an Ahana subsidiary.
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Jones Day advised Ahana on the deal. The team was led by Sushma Jobanputra (banking and finance), Karthik Kumar (projects and infrastructure), Vinay Kurien (banking and finance), Michelle Angela (private equity) and Caitlyn McCarthy (private equity) in Singapore; Steve Koppel (real estate) in New York; and Neil Ferguson (private equity), Mark Taylor (labour and employment) and Chris Slack (private equity) in London.
Cyril Amarchand Mangaldas was Ahana’s Indian counsel.
Norton Rose Fulbright was Armstrong’s international adviser. Tatva Legal advised the company on Indian law issues.
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