Nandan Nelivigi | White & Case LLP International Law Firm, Global Law Practice
Nandan Nelivigi
Nandan Nelivigi

Nandan Nelivigi

Partner, New York

“He is phenomenal, the quality of turnaround and documentation is excellent.” Sources describe him as “really, really smart and detail-oriented.”

Chambers Global 2016

Overview

Nandan focuses on the development, financing, acquisition and sale of major energy and infrastructure projects.

Nandan represents lenders, developers, sponsors, private equity investors and corporates in complex energy, infrastructure, and project finance transactions across the globe. He has been involved in the financing, acquisition and sale of many energy and infrastructure assets and companies, including some of the largest natural gas plants, wind energy and solar farms and ethanol plants in the United States, the Middle East, Asia and Latin America.

In addition, as the head of White & Case's global India practice, Nandan has extensive experience in M&A, joint venture, private equity and other corporate transactions involving India across a variety of industries, including healthcare, real estate, financial services, power and infrastructure.  Nandan helps clients in navigating complex transactions and disputes involving India – whether they relate to inbound investments by foreign investors or outbound acquisitions or capital raising activities by Indian companies.

Nandan is regularly ranked as a Leading Lawyer in Projects and Infrastructure, and in Corporate/ M&A, by independent legal publications including Chambers (Band 1).

Bars and Courts

  • New York State Bar
  • Bar Council of Karnataka, India

Education

  • LLM, Harvard Law School
  • BA/LLB (Hons.), National Law School of India University

Languages

  • English
  • Kannada

Experience

Power Sector/Project Finance:

 

Calpine Corporation US$17 Billion sale
Nandan was part of the team advising Calpine Corporation in its US$17 billion sale to a consortium of private equity investors led by Energy Capital Partners.

Calpine Steamboat Power Financing
Nandan led a team advising Calpine Corp. in the $488 million refinancing of a portfolio of power projects consisting of a 720 MW project in Alabama and a 241 MW project in Texas.

PJM Power Financings
Nandan is leading teams representing lenders in the financing or refinancing of multiple power projects in the PJM market.

Windsor Financing
Nandan represented Morgan Stanley in the US$246 million term loan B financing for Windsor Financing, LLC, an affiliate of Energy Investors Fund, which owns two coal-fired power plants in Virginia and North Carolina.

Los Esteros power project
Nandan led a multi-office team that represented Los Esteros Critical Energy Facility, LLC, a wholly owned subsidiary of Calpine Corporation, in the US$373 million financing for the construction and expansion of a natural gas-fired, combined-cycle power generation facility in San Jose, California.

Russell City power project
Nandan led a team that represented Russell City Energy Company, LLC, a joint venture between Calpine Corporation and an affiliate of GE Energy Financial Services, in the US$845 million construction financing of a natural gas-fired, combined cycle power generation facility in the city of Hayward, CA.

Wind energy farms
Nandan represented a number of banks and underwriters in the financing of a number of wind energy farms, including (i) the 300 MW Stateline wind energy farm in Washington and Oregon and (ii) four groundbreaking Rule 144A bond financings of portfolios of wind farms (16 wind farms with a total capacity exceeding 1,100 MWs) located in 15 different states in the United States.

Solar energy project
Nandan represented arrangers of a US$59 million construction loan and a US$33 million investment tax credit bridge loan for a 30 MW AC/35 MW DC ground-mounted photovoltaic solar power plant in Webberville, Texas.

Calpine Corporation power projects
Nandan represented subsidiaries of Calpine Corporation in (i) the US$498 million limited recourse financing comprising the 241 MW Freeport Energy Center in Texas and the 375 MW Mankato Energy Center in Minnesota, and (ii) the acquisition and refinancing relating to the 870 MW Broad River Generation Facility in South Carolina and the 520 MW South Point Generation Facility in Arizona.

Ethylene Cracker
Nandan represented US Ex-Im Bank in the US$1.55 billion financing of Q-Chem II ethylene cracker and petrochemical derivative facilities in Qatar.

California Power Projects
Nandan represented arrangers and underwriters in the limited recourse financing of a number of natural gas-fired power plants in California.

Brazilian Power Project
Nandan represented US Ex-Im Bank in the limited recourse financing of a 470 MW natural gas-fired power project in Brazil.

 

India (M&A and Private Equity):

 

Acquisition of a Healthcare Company
Nandan led the team that represented two private equity firms in acquiring an India-based provider of outsourced revenue cycle management services to U.S.-based healthcare providers and billing companies.

Sale of Stake in Power Business
Nandan led the team that represented GMR Group in the sale of a 30% stake in its energy business to Tenaga Nasional Berhad for $300 million.

Asset Reconstruction Company
Nandan represented J.C. Flowers & Co. in a joint venture with Ambit in establishing an asset reconstruction company focused on investments in distressed assets in India.

Sale of Stake in an International Airport
Nandan led a multi-practice and multi-office team that advised GMR Infrastructure Limited, an Indian infrastructure company, and its group companies on the sale of their 40 percent stake in Istanbul's Sabiha Gökçen (ISG) International Airport, one of the fastest-growing airports in the world. The stake was acquired by an affiliate of Malaysia Airports Holdings Berhad (MAHB) for €225 million, subject to certain adjustments.

Sale of Stake in a Singapore Power Project
Nandan led a multijurisdictional team that advised GMR Infrastructure Ltd., and its subsidiary GMR Infrastructure (Singapore) Pte. Ltd. (GMR), on the sale of its 70 percent stake in GMR Energy (Singapore) Pte. Ltd. (GMRE). The stake was acquired by FPM Power Holdings Limited for approximately US$600 million. FPM is a joint venture between First Pacific Company Limited and Meralco PowerGen Corporation.Prior to that, Nandan also represented GMR in its sale of a 30 percent stake in GMRE to Petronas.

Sale of Stake in an international power company
Nandan led the international team of lawyers that advised on GMR Group's US$1.232 billion sale of its 50% stake in the global power generation company, InterGen N.V., to China Huaneng Group, China's largest power generation company. The largest ever cross-border M&A transaction between India and China to date, this transaction won a number of industry awards.

Pharmaceuticals Joint Venture
Nandan advised Merck & Co., Inc. in its joint venture with Sun Pharmaceuticals Industries Ltd., a listed Indian pharmaceutical company, to develop and commercialize branded generics in emerging markets.

Acquisition of Stake in Homeland Mining and Energy SA
Nandan represented GMR Energy in the US155 million acquisition of a strategic stake in Homeland Mining and Energy SA, a coal mining company in South Africa, from Homeland Energy Group.

Private Equity Investments
Nandan represented AIG Global Real Estate, Starwood Capital, LBREP, GID Investment Advisers, Samsara Fund Advisors, Tudor Capital, AIREA Capital Investors, Oman Investment Fund and a number of other private equity funds, in making private equity investments in India's real estate, media, financial and other sectors.

 

India (Financings):

 

Rajasthan solar power project
Nandan represented the international lenders in the financing of Reliance Power's US$392 million Rajasthan Sun Technique solar power project in the state of Rajasthan, India, one of the largest solar projects in India. The financing for this project was provided by Asian Development Bank, FMO and US Ex-Im Bank, together with Indian commercial bank, Axis Bank.

Jubilant Pharma/IFC
Nandan represented Jubilant Life Sciences and Jubilant Pharma in a multi-tranche financing by International Finance Corporation.

Singapore Power Project
Nandan represented GMR Energy (Singapore) Pte. Ltd. in the approximately US$1 billion construction and term financing of an 800 MW greenfield power project in Singapore.

Loan restructuring
Nandan represented KBC Bank in the restructuring of its US$128 million loan to Archimedes Holdings, LLC, a fund with investments in various real estate assets in India.

Dabhol Power Project
Nandan represented Indian and international secured lenders (ABN AMRO, CSFB, ANZ, Citibank, IDBI, ICICI Bank and others) in the financing and multiple restructurings of the Dabhol power project in India, an approximately 2,200 MW natural gas-fired power project and LNG regasification plant.

 

Speaking Engagements

"Foreign Investment in India's Real Estate", Real Estate Investors' Forum,
New York

"Doing Business in India: Critical Legal Issues for US Companies", Practicing Law Institute's course, Presentation

"Key Issues in Cross-Border M&A Transactions in India", Computer Law Association annual conference,
Bangalore, India

Publications

  • New Companies Act: Bad for Private Equity and Venture Capital Investors, The Deal, 2014
  • India's New Corporate Law: Challenges in Structuring Private Equity Investments, EMPEA Legal and Regulatory Bulletin, 2014
  • Navigating India: Lessons for Foreign Investors, White & Case publication, November 2014, (co-author, with George Cyriac, Jonathan Olier, Aloke Ray and Dipen Sabharwal)
  • Island Hopping to India: Mauritius, Cyprus and Singapore, India Business Law Journal, 2007
  • Cross-Border M&A Transactions in India, BNA International, 2006, (co-author, with Ramya Seetharaman)
  • Infrastructure Project Finance in India: Recent Developments, BNA International, 2006, (co-author, with Christopher Krishnamoorthy and Doug Peel)

Awards & Recognition

Leading Lawyer (Band 1), Chambers Global 2017, Chambers Asia-Pacific 2017

Corporate/M&A - India

Leading Lawyer, Chambers Global 2017

Corporate/M&A - USA