Latham & Watkins and Khaitan & Co have advised Thailand’s Global Renewable Synergy Company (GRSC) on its $453 million acquisition of a stake in Indian solar power company Avaada Energy, which was counselled by Cyril Amarchand Mangaldas.

GRSC is a wholly-owned subsidiary of Global Power Synergy Public Company (GPSC), which is a unit of Thai state-owned energy company PTT.

The investment is aimed at enhancing GRSC’s expertise in solar power generation and is intended to capitalise on expected growth in Avaada’s portfolio, following the Indian government’s plans to increase the supply of electricity from renewable sources by 2030.

The Latham & Watkins team was led by partners Marcus Lee and Posit Laohaphan.