DANS holds a large portfolio of hydro projects and is developing a “run of river” 193MW hydropower platform in northern India, of which one 96 MW project is near completion. Hydreq’s investment is the first of its kind by an overseas fund in the hydropower sector in India.
HSA has previously advised Equis in two earlier investments in DANS, closing in August 2012 and March 2013 respectively. The current deal takes Equis’s total investment in DANS up to 4 billion rupees.
HSA’s Harvinder Singh provided local counsel to Equis with support from senior associate Sumedha Dutta. Equis was advised on Singapore law by Rajah and Tann in Singapore, led by corporate partner Tracy Ang.