Herbert Smith Freehills advises Yinson Renewables on second stake in world's largest solar park

Leading global law firm Herbert Smith Freehills has advised Yinson Renewables, a subsidiary of Malaysia's Yinson, on its proposed acquisition of an additional stake in the world's largest solar park. 

Yinson Renewables purchased an initial 37.5% stake in Rising Sun Energy Private Limited (RSE), who developed and operate a major tranche of India's Bhadla Solar Park in April. On 21 August, the company signed a conditional sale and purchase agreement to acquire an additional 57.5% stake in RSE.

With an installed capacity of 2,245MW already, the massive park covers 14,000 acres – equivalent to 7,000 soccer pitches.

Lawyers from Herbert Smith Freehills’ Asia energy and competition teams advised Yinson on the transaction, acquiring the stake from Singapore companies Sunseap International, Charisma Energy Services and Bhadla Solar Investments.

"When this deal completes, Yinson will control 95% of RSE, a company that holds around 140MW of this solar park's generating capacity," said Asia Head of Energy Hilary Lau. "Yinson's earlier acquisition this year was its first venture into renewables and we're pleased to have helped the company on this latest transaction."

Yinson Holdings Berhad is one of the world’s leading energy solution providers, listed on the Main Market of Bursa Malaysia. Yinson announced its diversification into renewables last year.

"India already boasts four of the world's ten-largest solar parks, with another three parks in the top ten located in China," said Kuala Lumpur partner Glynn Cooper. "We expect further and considerable growth and investment in Asia's renewables and solar market in the coming years."

Hilary and Glynn led the team advising Yinson, assisted by Christie Wu, Yida Xu and Charles Wong in Hong Kong and by Jen Ru Wong in Kuala Lumpur. Competition law advice was provided by Adelaide Luke and Howard Chan in Hong Kong. Singapore law advice was provided by associate firm Prolegis' Ban Leong Oo and Sze Min Lim, and Indian law advice was provided by Cyril Amarchand Mangaldas.