DLA Piper has advised Gehrlicher Solar AG, one of the world’s leading photovoltaic companies, on a joint venture with environmental technology supplier Greenforce Enviro Pvt. Ltd in India. Located in the commercial hub of Mumbai, this gives Gehrlicher Solar AG a presence on the Asian continent for the first time. The newly founded joint venture company Gehrlicher Solar (India) Pvt. Ltd also involves Indian solar pioneer Deepak Gadhia (formerly Gadhia Solar) as Chairman. He has comprehensive expertise in the renewable energies market, especially in India. Shareholders of Greenforce include Deepak Gadhia and Indian real estate company Soham Group.
DLA Piper’s India experts Dr Benjamin Parameswaran and Dr Daniel H Sharma led the legal team for Gehrlicher Solar AG.
Dr Parameswaran commented: “Advising Gehrlicher Solar AG in this strategically important joint venture in India represents a great success for my colleague Daniel Sharma and for me. We are delighted that we have been able to support our client in establishing this photovoltaics venture in Mumbai through our expertise in the field of joint ventures/M&A on the Indian market. When advising clients in India-related transactions, it is important, on the one hand, to have knowledge and experience of India, while, on the other hand, it also helps to be familiar with the legal market of the country in which the client’s company is based. And it is precisely this combination that we as the India Group of DLA Piper provide.”
Dr Sharma added: “Our clients’ centre of business activity is continuously shifting to the east. It is quite obvious in this trend that India is a market of the future. The pooled India expertise at DLA Piper puts us in an outstanding position to successfully advise our clients with connections to India.”
Both Dr Parameswaran and Dr Sharma have Indian roots and have been managing numerous clients involved with India for many years. Today they are jointly responsible for the DLA Piper India Group throughout continental Europe. The global India Group of DLA Piper is made up of a closely-knit group of partners in the USA, UK, the Middle East and Asia. All of them have exceptional expertise in the Indian market with excellent contacts with leading Indian law firms, demonstrated by various transactions and other clients. Only recently, DLA Piper played a leading role as international advisor in the USD 3.4-billion IPO of Coal India, the largestIPO that India has ever seen.
The long-term objective of DLA Piper is to have a presence in India as soon as local regulatory conditions allow. DLA Piper has long since recognized India as an important market.
The DLA Piper team also included Senior Associate Dr Roland Hens (Cologne/Corporate/M&A). Acting as local counsel in the transaction were Khaitan & Co. with partner Arindam Ghosh (Mumbai/Corporate/M&A) and associate Abhishek Sinha (Mumbai/Corporate/M&A).
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