Norton Rose Fulbright advises TAQA on divestment of India coal asset as part of clean power push

Global law firm Norton Rose Fulbright has advised TAQA on its exit from 250MW Lignite plant located in Tamil Nadu, India.

TAQA, the international energy solutions company, sold 100 percent of its stake in TAQA Neyveli Power Company to MEIL Energy Private Limited for ₹9.26 billion, or about AED387 million.

This transaction forms part of TAQA’s long-term plan to prioritise efficient assets and strengthen energy security, as well as its strategic push to reduce Scope 1 and Scope 2 emissions by 25 percent by 2030 to focus on lower-carbon technologies.

The Norton Rose Fulbright team was led by corporate partner Bayo Odubeko. He was supported by a multi-disciplinary team that included counsel Christopher Baird and senior associate Gillian Jaravaza (corporate); partner Claire Irwin and associate Becky Puzey (disputes); and Head of Energy EMEA Charles Whitney, partner Chris Down and senior associate Shaheer Momeni (projects).

Bayo Odubeko commented:

“It was a pleasure to advise TAQA on this complex but strategic divestment, which marks a significant milestone in its journey towards a cleaner, more flexible energy portfolio. This transaction both strengthens TAQA’s focus on lower-carbon technologies and supports its ambition to lead the transition to sustainable power generation. We look forward to working with TAQA again in the future.”