Shapoorji Pallonji Infra Sell Solar Assets To KKR
Shapoorji Pallonji Infrastructure Capital and global investment firm KKR announced the signing of definitive agreements under which SP Infra will sell five operational solar energy assets to KKR for a total consideration of INR 15,540 million (~ USD 204 million). The portfolio comprises 169 MW (DC) in Maharashtra and 148 MW (DC) in Tamil Nadu. Mukundan Srinivasan, Managing Director of SP Infra, said “This deal further demonstrates SP Infra’s continued track record of developing high-quality infrastructure assets in its chosen spaces, creating value for further growth in its businesses, and be the partner of choice for high-quality international investors like KKR.” David Luboff, Head of Asia Pacific Infrastructure at KKR, said, “We are truly pleased to extend our Infrastructure franchise in Asia and India through this investment in a world-class portfolio of fully operational solar energy projects. Given the growing demand across Asia Pacific for sustainable energy solutions, we also see this as a great example of how KKR can bring capital and expertise to assets to help meet the demand for infrastructure development. Looking ahead, we are excited to explore even more renewable energy opportunities in India and overseas.” Sanjay Nayar, CEO of KKR India, added, “SP Infra and the Shapoorji Pallonji Group are recognized in India and worldwide for the high quality of their renewable energy projects, and given the government’s ambitious target of achieving 175GW of renewable energy capacity by 2022, we believe this is an attractive time to invest in this portfolio and provide even greater solar energy solutions to communities across India.”
Tags : ALLIED Shapoorji Pallonji Infra Sanjay Nayar KKR India David Luboff Mukundan Srinivasan SP Infra Solar Assets