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The Silicon Review Asia

KKR to acquire solar energy assets from Shapoorji Pallonji Infra

KKR to acquire solar energy assets from Shapoorji Pallonji Infra

Infrastructure development is the key driver of a country’s economy. It is responsible for propelling overall development that can ensure world-class infrastructure. Many companies are taking this serious and contributing towards country’s infra-development. With this said, the global investment firm KKR and leading infrastructure developer Shapoorji Pallonji Infrastructure Capital announced an agreement under which KKR will acquire five solar energy assets from SP Infra 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.

Shapoorji Pallonji Group, one of the most reputed construction conglomerates 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.

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.”

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