Khaitan & Co and Cleary Gottlieb Steen & Hamilton have advised Just Climate, an Al Gore-backed asset fund management firm, on its $150 million investment into Indian renewable energy group Continuum Green Energy, which was represented by Trilegal.
Just Climate will invest in Continuum from its $1.5 billion Climate Asset Fund I, launched in 2023 to focus on industrial climate solutions. The fundraise will help Continuum deploy wind-solar hybrid energy generation and storage projects across India.
“Continuum’s deployment of renewable energy will help displace coal power generation, realising the type of significant greenhouse gas emissions abatement that we at Just Climate look for in our investments while also managing impacts on people and planet. Continuum is the first investment in India from our industrial decarbonisation fund and complements our portfolio of other industrial decarbonisation solutions in the United States and Europe,” said Tushar Kumar, partner at Just Climate.
Just Climate joins a Morgan Stanley-backed fund, which invested in Continuum in 2012. This latest investment follows the recent $650 million bond issuance and previous financings completed by Continuum, involving a range of institutional investors.
Khaitan’s team advising Just Climate was led by partners Kartick Maheshwari and Shantanu Gupta, and included partners Ashutosh Sharma, Anisha Chand, Aditya George Cheriyan, Sudheer Madamaiah, Anshul Prakash, Atman Desai, Rajiv Bhatnagar, Rahul Jain, and Jyoti Sinha, counsel Mukul Aggarwal, and tax director Vinita Krishnan.
Cleary’s team was led by partner Mike Preston and counsel Christy O'Connell.
The Trilegal team advising Continuum as well as its founders Arvind Bansal and Vikash Saraf was led by corporate partners Amit Khansaheb and Rahul Chugh, who were supported by senior associates Sidharth Dhody, Kriti Chatrath and Siddhant Maheshwari, and associates Philip Ashok Alex and Navya Bhayana.
Trilegal partners Vishruta Kaul, Rudresh Singh, Nayantara Nag and Siddharth Dang also assisted on the deal.
