DP through its subsidiaries is setting up 6,400 MW of power projects in India, which include a 1,200 MW coal-based thermal power plant in Chhattisgarh and a 1,320 MW thermal power plant in Madhya Pradesh.

The investment will allow the company to acquire an undisclosed interest in DP, enabling it to accelerate its growth plans in India.

Avendus Capital served as the financial advisor while Amarchand & Mangaldas & Suresh A Shroff & Company acted as legal advisor to Diligent Power.

AZB & Partners is the legal advisor to Warburg Pincus on the transaction.