Indian law firm Trilegal is advising a consortium of investors led by Abu Dhabi National Energy Co., also known as Taqa, on its proposed $1.6 billion purchase of two hydropower plants in India from a subsidiary of Jaypee Group, an Indian conglomerate.

Taqa and the two other consortium members—a subsidiary of Canadian Public Sector Pension Investment Board and a fund managed by India’s Infrastructure Development Finance Co. Ltd. (IFDC)—are acquiring the Baspa Stage II and Karcham Wangtoo plants in the northern state of Himachal Pradesh from Jaiprakash Power Ventures Ltd., the Jaypee Group subsidiary.

The consortium, in which Taga has a 51 stake, will invest $616 million into the plants, as well as acquire about $1 billion in project debt. The deal, subject to regulatory approval, is expected to close this year. No exact deadline was given in a Taqa statement.

Trilegal Delhi partners Yogesh Singh and Saurabh Bhasin are acting for the consortium. Vaish & Associates Mumbai partner Bomi Daruwala is representing Jaiprakash Power Ventures.

Allen & Overy Abu Dhabi partner Khalid Garousha advised Taqa on the consortium shareholder agreement. Slaughter and May advised Canadian Public Sector Pension Investment, with AZB & Partners Mumbai partner Ashwin Ramanathan acting as Indian counsel. Amarchand & Mangaldas & Suresh A. Shroff & Co. Mumbai corporate partners Ashwath Rau and Jaya Singhania advised the IFDC fund.