Data center investments in India

Data Centers as a Critical Asset Class: Assessing Power, Cooling, Land-Use, Interconnectivity, and Financing Models

Data centers constitute a critical, distinct infrastructure asset class offering stable, long-term returns comparable to regulated utilities. Realizing scalable value requires legal structuring across five interdependent dimensions: reliable, high-capacity power; efficient cooling technologies; complex land-use entitlements; interconnectivity density; and specialized financing frameworks linked to performance and ESG compliance.


environmental law: issue 1

Environmental Law: Issue 1 of 2026

Issue 1 of 2026 of our Newsletter on Environmental Law covers key judicial and regulatory developments between the months of July and September 2025. In respect of judicial updates, Issue 1 includes judgements and orders of the Supreme Court, High Courts, and the National Green Tribunal related tointer-aliamandatory requirement of replenishment studies in district survey reports for sand mining projects, minimum green belt requirement for expansion of a coal washery, and periodic environmental audits of common and integrated effluent treatment plants, respectively.
In addition, Issue 1 tracks regulatory updates related tointer-aliacompliance obligations under hazardous waste rules, remediation of contaminated sites under environment protection rules, calculation of green credits in respect of tree plantation activities, and procedures for undertaking environmental audits.


clean energy | S&R Associates

Clean Energy: Issue 3 of 2025

Issue 3 of 2025 of our Roundup Series on Clean Energy covers the six-month period between April and September 2025. This Issue tracks regulatory and other key developments at both Central and State levels in the covered period with respect to solar and wind energy generation, green hydrogen and green ammonia production, tariffs, connectivity, biogas/biofuel, electric vehicles, and nuclear energy, and includes miscellaneous updates (including on hydropower and pumped storage) and key judicial decisions.


investment in renewable energy projects

Investment in Renewable Energy Projects: Key Legal Due Diligence Considerations

India has rapidly adopted clean energy to diversify its energy mix given its climate commitments. An enabling policy framework and technological advances have resulted in broad based participation in this sector. This note considers key issues for a legal due diligence on renewable energy generating plants having regard to various stages of project development.


virtual power purchase agreements

Integrating Virtual Power Purchase Agreements into India’s Power Market: Proposed Changes to the Regulatory Framework

Certain changes to the Indian regulatory framework, as applicable to virtual power purchase agreements (“VPPAs”), have been recently proposed by the Central Electricity Regulatory Commission (“CERC”) pursuant to draft regulatory instruments – including through VPPA-specific guidelines, as well as necessary amendments to existing CERC regulations related to the power market and renewable energy certificates (“RECs”), respectively.
With the broad aim of enabling power consumers and obligated entities to meet their respective renewable consumption obligations (“RCOs”) pursuant to the Indian Government’s decarbonization targets and proposed energy security transition, and given the acknowledged utility of VPPAs to facilitate such mandatory RCO compliance, the draft amendments aim to (i) integrate VPPAs into the Indian power market, including by defining the nature and essential features of such contracts, and establishing their placement within the over-the-counter (“OTC”) market, (ii) provide concrete mechanisms for VPPAs to function as viable market instruments, and (iii) clarify the treatment of RECs under the contractual scheme of VPPAs. Accordingly, OTC platforms now have the additional objective of facilitating transactions between buyers and sellers in respect of contracts related to VPPAs and RECs, among others.
This note analyzes the draft amendments with reference to VPPAs.


exemptions from Non-Agricultural Tax

Exemptions from Non-Agricultural Use Certificate and Non-Agricultural Tax for Solar and Wind Energy Power Generation Projects in Maharashtra

The Government of Maharashtra (“GoM”) on January 29, 2025 had issued a circular regarding exemptions from non-agricultural use certificates (sanad) for industrial projects. The GoM recently issued another circular on August 7, 2025 introducing important clarifications regarding exemptions from obtaining non-agricultural use certificates (sanad) and payment of non-agricultural tax for solar and wind power projects. This note highlights the similarities, differences, and sectoral focus of the two circulars in order to aid stakeholders in understanding the exemptions in respect of land use for industrial projects and power generation projects in Maharashtra.


Clean Energy

Clean Energy: Issue 2 of 2025

Issue 2 of 2025 of our Quarterly Roundup Series on Clean Energy covers the period between February and May 2025. This Issue tracks regulatory developments at both Central and State levels in the covered period with respect to solar energy generation, green hydrogen production, wind energy generation, tariff, connectivity, biogas, electric vehicles and e-mobility, and nuclear energy, and includes miscellaneous updates and key judicial decisions.
Significant developments in the covered period include clarifications on domestic content requirements for solar photovoltaic cells, issuance of the Green Hydrogen Certification Scheme of India, amended guidelines for tariff-based competitive bidding for power procurement from grid-connected wind solar hybrid projects, a landmark decision on whether the Central Electricity Regulatory Commission has jurisdiction to adjudicate tariff-related disputes involving nuclear power generation, new State-level regulations on green energy open access, operational guidelines to promote domestic manufacturing of electric passenger vehicles, issuance of new or revised State-level EV policies, a dedicated scheme for the implementation of biofuel projects in Madhya Pradesh, announcements on India’s Nuclear Energy Mission and establishment of taskforces to introduce legislative and regulatory changes in India’s nuclear energy sector, detailed procedures related to the offset mechanism under India’s Carbon Credit Trading Scheme, and draft guidelines for virtual power purchase agreements.


clean energy projects in India

Use of Land for Clean Energy Projects in India

India’s ambitious climate and clean energy targets are redefining the investment landscape for renewables and electric vehicles. As international and domestic players intensify their focus on these sectors, one of the most critical determinants of project viability is land.While dedicatedrenewable energy (“RE”)parks and/or designated zones with pre-acquired land and transmission infrastructure may help in streamlining project development, developers must still account for project-specific environmental clearances, construction permissions, and proximity to substations or transmission corridors.
With respect to solar and wind energy projects, as well as green hydrogen, significant land, real estate, and related infrastructural resources may be necessary, with site selection being one of the most critical early-stage considerations. Existing land-related challenges in India’s RE and green hydrogen sector involve availability, cost, and access issues, particularly for large-scale deployments, including on account of land conflicts, user restriction and domestic population density.
In general, securing/ acquiring land in India involves a complex matrix of legal, regulatory, and socioeconomic factors, including on account of varying ownership patterns across states, and issues such as fragmented titles, complicated land revenue systems, complex tenancy rights, litigation, and opposition from local communities.For energy companies, ‘clean tech’ and sovereign wealth funds, as well as infrastructure investors, the challenge lies in balancing legal certainty with commercial agility and social license.


Environmental Law

Environmental Law: Issue 2 of 2025

Issue 2 of 2025 of our Quarterly Newsletter on Environmental Law covers key judicial and regulatory developments between the months of April and June 2025. In respect of judicial updates, Issue 2 includes judgements and orders of the Supreme Court, High Courts and the National Green Tribunal related tointer-aliatree felling in Telangana’s Kancha Gachibowli Forest, waste collection and segregation in Delhi-NCR, unlawful mining in Aravali and ex-post facto Environmental Clearances.
In addition, Issue 2 also tracks regulatory updates related tointer-aliaconstruction waste management, registration on dust pollution control self-assessment portal, methodology for environmental compensation under hazardous waste rules, greenhouse gas emissions intensity target rules and plastic waste management.


Energy Storage Systems

Electricity Consumers’ rights in relation to Energy Storage Systems under Draft Amendments to the Electricity Rules, 2005

On June 11, 2025, the Ministry of Power has issued draft amendments (“Draft Amendments”) to the Electricity Rules, 2005 (“Rules”) under which changes to Rule 18 of the Rules relating to energy storage systems (“ESSs”) are sought to be made.
Under the current form of the Rules, an ESS may be owned developed, owned, leased or operated by a generating company, a transmission licensee or a distribution licensee, a system operator or an ESS service provider. However, under the Draft Amendments, consumers are also permitted to develop, own, lease and operate ESSs.
Although the amendments may be small, they may impact models for energy delivery and infrastructure investment. Consumers may now have a choice on whether to purchase power from hybrid systems with inbuilt ESS or from an independent ESS service provider or develop its own ESS. For commercial and industrial consumers with large energy needs a captive ESS may offer an interesting proposition and reduce dependence on generating companies.