Haidermota & Co. successfully represented Bank Alfalah Limited and GuarantCo Limited in relation to the financial closing of a first-of-its-kind landmark off-grid project of up to PKR 2 Billion for leading solar developers Shams Power Limited and IM Solar Limited under Category III of the State Bank of Pakistan (SBP) Refinancing Scheme for Renewable Energy, backed by a partial guarantee from GuarantCo Limited over a portion of the principal exposure under the financing facilities. The Firm’s scope included structuring the transaction under power purchase and equipment sale models and assisting the Lenders in relation to structuring the financing facilities in relation thereto and the security structure (on a joint parri passu basis).
The transaction aims to support the construction and development of solar power generation units at commercial, industrial and institutional sites across Pakistan of up to 1 MW each with a cumulative cap of 60 MW under power purchase and equipment sale models.
