Dhananjaya Chak

Partner

London, India Group

Dhananjaya is a Partner in the firm’s finance practice with a focus on the infrastructure and energy sectors. Dhananjaya is Head of our India finance practice.

Dhananjaya has extensive experience acting for sponsors and lenders on energy and infrastructure acquisitions across Europe and the UK as well as greenﬁeld projects in Africa and Southeast Asia (with a particular focus on India). His experience covers holdco and midco financing structures as well as multi-creditor platform structures including a mix of commercial bank and institutional debt.

Dhananjaya is a key member of our market-leading team considered as the 'platinum' standard in the energy, natural resources and infrastructure sectors for providing top quality service to clients. Our sector specialists deliver expert support on some of the most complex energy transition and decarbonisation projects (including CCUS), renewables and power projects, world-class mining projects, large-scale oil and gas projects and first-of-a-kind infrastructure projects. We continue to support our clients, and have done over many years, in navigating the systemic shift in interest in green and sustainable financing.

Background

Dhananjaya is qualified in India (advocate) and England and Wales (solicitor). He holds a B.A., LL.B (Hons.) degree from NALSAR University of Law, Hyderabad, India. While at NALSAR, Dhananjaya won the gold medal for constitutional law and was also awarded the Microsoft IPR scholarship in his final year. Before moving to Herbert Smith Freehills in October 2015, he worked in the London office of another leading international law firm for seven years. He speaks English and Hindi.

Experience & expertise

Selected matters

Project finance

IFC and other DFIs on financing SB Energy’s 450MW solar/wind hybrid power plant in Rajasthan, India
EDEN India (a JV between EDF Renouvables and Total-Eren) on two green loan financings for 900MW of solar power plants in Rajasthan, India
IFC and other DFIs on the US$135 million financing for Azure Power’s Indian rooftop solar
IFC, Standard Chartered Bank and Standard Bank on financing Umeme's capex programme to develop the Ugandan power distribution network
Asian Development Bank and Societé Générale on financing Engie’s 200MW solar power plant in Gujarat, India
New Development Bank on a US$300 million loan to REC Limited, a public finance company
Skypower Global on the development and financing of 350MW solar projects in India and the acquisition of the 100MW Anjeed Kafanchan solar power project in Nigeria
Azure Power in relation to financing its 260MW solar power plant in Gujarat, India
Vitol SA on the project finance aspects of its US$7 billion oil and gas project in Ghana with ENI supplying gas for power generation (involving MIGA, UKEF and IFC)
KfW in respect of the financing of the San Gabriel combined cycle power plant in the Philippines
the lenders in connection with the financing of the Rabigh2 IPP in Saudi Arabia
U.S. Ex-im Bank in relation to financing three Saudi Aramco Cogeneration plants in Saudi Arabia
the commercial lenders, Islamic lenders and various ECAs relation to the 3,927MW gas-fired Qurayyah IPP in Saudi Arabia
A confidential debt fund regarding a loan to Fortum Glasgow Limited and Green Investment Group in relation to the development of the South Clyde Energy Centre, Glasgow (an energy from waste facility with capacity of c. 35MW)
the lenders in relation to the proposed financing of the Kinlochleven hydropower plant
a bidding consortium in relation to the 440MW Nam Ngum 3 Hydropower reservoir project in Lao PDR

Energy and Infrastructure acquisitions

Transmission Capital Partners on the financing and acquisition of various transmission links to offshore wind farms in the UK.
GIC on the holdco financing for its acquisition of CETIN, a leading telecommunications infrastructure provider operating across Central and Eastern Europe
GIC on the financing of its proposed acquisition of North Sea Midstream Partners, a gas processing and transportation business
GIC Infrastructure on its acquisition from funds managed by Global GIP of a minority interest in global container terminals operator, Terminal Investments Limited
Amber Infrastructure, Dalmore Capital and GLIL on the midco platform financing for the proposed acquisition of High Speed 1, involving multiple sources of financing including bank facilities, liquidity facilities and private placement debt.
Brookfield on the holdco financing for the proposed acquisition of Ufinet, a fibre optic wholesale operator in Spain and Latin America
Brookfield Infrastructure Debt Fund on the holdco private placement debt for the acquisition by UBS Infrastructure of the Autovía del Camino S.A, a motorway concessionaire in Northern Spain
the lenders on the holdco financing to refinance the acquisition by the DIF/ Aberdeen Standard/ LPPIL consortium of Elenia Heat, the Finnish district heating business
the lenders on the holdco financing for the proposed acquisition of Elenia, the Finnish electricity distribution business, involving multiple sources of financing including bank debt, US private placement debt and European private placement debt
the lenders on the holdco financing to refinance the acquisition by the DIF/ Aberdeen Standard/ LPPIL consortium of Elenia Heat, the Finnish district heating business
MIDIS and Aviva on the holdco private placement debt for the proposed acquisition of multiple stakes in Agility trains
the lenders on the holdco financing for the proposed acquisition by iCON Infrastructure of The Choice Care Group
a prospective lender on the holdco financing for a bidder for Statkraft UK Limited’s stake in the Dudgeon offshore windfarm
the lenders on the financing for the proposed acquisition by Ardian of Fortum Joensuu Oy, the Finnish district heating business
the existing lenders on the financing of Cory Riverside Group whose energy-from-waste facility on the banks of the Thames in Kent
JP Morgan Asset Management on financing aspects of its fully-documented bid to acquire Swedegas
the lenders on the financing for the acquisition by JP Morgan Infrastructure of Värmevärden, the Swedish District Heating company
the lenders on the financing for the proposed acquisition by Värmevärden of E.ON's Swedish district heating business