KKR Infra Buys 5 Solar Assets For INR 15.54 Billion

In Clean Fund, News, Renewable Energy

Global investment firm KKR will acquire five solar energy assets from SP Infra (Shapoorji Pallonji Infrastructure Capital) for total consideration of INR15.54 billion (approximately US$204 million).

The portfolio comprises of assets with a capacity of 169MWp in Maharashtra and assets with a capacity of 148 MWp in Tamil Nadu.

With a legacy of 154 years, the Shapoorji Pallonji Group is based in Mumbai and operates in over 70 countries with a global turnover of over US$5 billion.

SP Infra is the infrastructure development arm with assets and businesses in the renewable and gas-based power, highways, port and terminals in India and overseas.

KKR India, said in an statement, “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.”

EY acted as KKR’s M&A advisor and AZB & Partners and Simpson Thacher acted as KKR’s legal advisors. Edelweiss, Khaitan & Co. and PwC acted as SP Infra’s respective M&A, legal and tax advisors.

This is a BusinessWire Feed, edited by Clean-Future Team

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