Trilegal Desai Diwanji and Davis Polk lead on Rs 1200 crore investment by Morgan Stanley in Continuum Wind Energy

Morgan Stanley Infrastructure Partners (MSI) has invested Rs. 1200 crore ($210 million) in Continuum Wind Energy co-founded by investment banker Arvind Bansal and Vikas Saraf of Essar Group. The private equity arm of Morgan Stanley will hold majority stake in the power generation company..Trilegal acted as Indian counsels for MSI. Trilegal team was led by Partner Saurabh Bhasin along with Counsel Avirup Nag, Senior Associates Nishant Beniwal and Ravi Mahto and Associate Arjun Sinha..The Hong Kong office of Davis Polk & Wardwell acted as international counsels to MSI. Davis Polk team was led by Partner Kirti Kapoor and Associate Sam Kelso..Desai & Diwanji advised the Promoters with a team lead by Partner Amit Khansaheb..According to ET, Continuum Wind Energy will issue preference shares to Morgan Stanley to be converted into equity at a later date. The purchase will be equivalent to more than 50 per cent stake in the energy firm. Continuum Wind Energy will use the funds to expand its business..Dealcurry reports, Continuum Wind Energy is a two-year old startup and is focused on building a portfolio of wind farms through acquisitions and green field development. Continuum Wind Energy commissioned its operations by acquiring Surajbari WindFarm Development, the wind farm assets of European wind power generation major Vestas, operating in the Kutch region of Gujarat..Currently the company operates 36MW wind farms at Kutch and Sangli in Maharashtra, and is in advanced stages of building 183MW assets. Another 300MW is also lined up for development..MSI, part of Morgan Stanley Investment Management, is an infrastructure investment and management platform with $4 billion under management that focuses on assets providing essential public goods and services to societies across the globe. This is also Morgan Stanley’s fourth investment in the power sector after Asian Genco.