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Deal Corner December 24, 2019

NDA advises first Smart City project in India

DEAL BRIEF

The Swiss government has authorized 2000Watt Smart City Association (2000WSCA) to represent and confer the international label 2000WattSite to townships, towns, cities and regions in India. The new label is furthermore combined with the Indian guidelines for Smart Cities, making these new townships both sustainable and comfortable. This combined label is called 2000WattSmartCity.The 2000Watt SmartCity label will lay down standards for smart cities to come up in India.

2000WSCA recently entered into a Memorandum of Understanding with the Pune Metropolitan Regional Development Authority to execute the concept of developing carbon-neutral sustainable townships in Pune region.

OUR ROLE

We, at Nishith Desai Associates, acted as legal counsel to 2000WSCA, representative of Swiss Federal Office of Energy for advising on strategic, legal and tax aspects of entering into a formal relationship with Pune Metropolitan Regional Development Authority for development of carbon neutral sustainable townships around Pune.

Further, NDA will help label 2000Watt SmartCity develop legal and regulatory framework for governance of smart cities which have been configured with the label.

PRESS COVERAGE

Press coverage relating to the signing of the MoU is as follows:

https://www.2000wsc.org/2019/10/28/pmrda-and-switzerland-to-develop-indias-first-carbon-neutral-township-in-pune%E2%80%8B/

https://www.moneycontrol.com/news/business/real-estate/pmrda-and-switzerlands-2000wsca-to-develop-carbon-neutral-township-in-pune-4458271.html

https://www.hindustantimes.com/cities/pmrda-signs-mou-with-switzerland-for-carbon-neutral-townships/story-bQpbK8cLtwXRJglXBNYmUL.html

https://content.magicbricks.com/property-news/pune-real-estate-news-industry-news/pune-development-body-signs-pact-with-2000wsca-for-eco-friendly-townships/108796.html

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