Home / Companies / News / KKR to buy Shapoorji Pallonji Group's solar assets for Rs 1,554 crore

KKR to buy Shapoorji Pallonji Group's solar assets for Rs 1,554 crore

The deal is part of KKR's strategy to increase its presence in Asia's infrastructure sector and today's transaction is the firm's second investment in the country as part of its dedicated plan

Renewable Energy, solar, wind, clean, green

Premium

KKR has evolved a traditional sector-based approach to infrastructure – spanning assets such as transportation, energy, telecom, water and waste, among other segments

Dev Chatterjee Mumbai

4 min read Last Updated : Apr 27 2020 | 10:33 PM IST

With equity commitments worth Rs 2,500 crore to several ongoing projects pending, and debt levels rising, Shapoorji Pallonji Group (SP Group) on Monday sold its solar power assets to global financial powerhouse KKR for Rs 1,550 crore in a fire sale.

But analysts said this sale will not be enough for SP Group company to meet its financial commitments and it will have to sell more assets in the near future to trim its debt.

The portfolio sold by Shapoorji Pallonji Infrastructure Capital Company (SP Infra), a subsidiary of SP Group’s holding company, comprises 169 megawatt (Mw) in Maharashtra and

Topics : Shapoorji Pallonji group Shapoorji Pallonji KKR India renewable energy

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in