Photo of Nishtha Gupta

Associate in Projects and Project Finance Practice team at the Mumbai office of Cyril Amarchand Mangaldas. Nishtha advises on project financing matters across sectors including road sectors and renewable energy sector and other structured financing transactions. She can be reached at nishtha.gupta@cyrilshroff.com

After more than three months of lockdown, there is no denying that the Indian economy has been impacted. This is also evidenced by the stimulus packages announced by the Government of India, in an attempt to protect and revive the economy. With most people staying indoors 24*7, electricity consumption in the commercial sector was also impacted initially, although the levels have been restored in a phased manner. This coupled with different lockdown strategies in different states, is also continuing to impact business at large. Taking into account the impact of COVID-19 across the globe, and the lockdown in the country, the government of India and certain central agencies have been providing clarification and issuing memorandums/notifications to guide the infrastructure industry, specifically the renewable energy (RE) sector, and RE projects in terms of COVID-19 being declared as a force majeure (FM).


Continue Reading COVID-19 Cloud Cover: Not so sunny times for renewable energy sector!

 Toll Operate and Transfer model - NHAI

With a view to monetise the operational national highways, the National Highway Authority of India (NHAI) introduced the Toll Operate and Transfer (TOT) model for partnership with private developers in the road sector. Under this model, NHAI passes on the toll collection rights and operation and maintenance obligations for 30 years to the private developer against payment of upfront, one-time, lump sum concession fees quoted by the private developer as part of the comprehensive bidding process. Projects under this model are awarded as a bundle of operational national highways, which allows the investor to offset the risks of one project against another. Since existing and operational roads are auctioned under the TOT model, it does not need developers with construction skills to participate.
Continue Reading Toll Operate Transfer Model – Gateway to New Opportunities in Highway Sector