KKR to buy solar energy assets from Shapoorji Pallonji Infra for $204 million
By MYBRANDBOOK
KKR, the private equity giant has given a nod to acquire five solar energy assets of Shapoorji Pallonji Infrastructure Capital (SP Infra) for a sum of $204 million (Rs 1,554 crore).
The assets include a capacity of 169 megawatt peak (MWp) in Maharashtra and 148 MWp in Tamil Nadu, KKR said in a statement. The investment was made through its infrastructure fund.
The deal will help it bring capital and expertise to meet the demand for infrastructure development in the sustainable energy segment, it added.
EY is the mergers and acquisitions advisor to KKR, while AZB & Partners and Simpson Thacher & Bartlett acted as the legal advisors to the PE firm on the deal. Edelweiss, Khaitan & Co. and PricewaterhouseCoopers acted as the M&A, legal and tax advisors to SP Infra.
SP Infra is the infrastructure development arm of Mumbai-based Shapoorji Pallonji Group. The company has assets and business ventures in the renewable and gas-based power spaces and highways, ports and terminals in India and abroad.
“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,” Sanjay Nayar, CEO at KKR India, said.
BHIM to join e-commerce, competing with PhonePe and Google Pay
The government-supported payment software BHIM is getting ready to join t...
The latest version of X helps prevent deepfakes on social medi
To combat deepfakes and shallowfakes, Elon Musk revealed a new update t...
India and Namibia collaborate on a payment system similar to U
Once operational, the platform will enable digital transactions in Namibia,...
Sebi issues show-cause notices to six Adani group firms
Sebi issued show-cause notices to six Adani Group firms, including Adani ...
SECUREYE SERVICES PVT. LTD.
HP INDIA SALES PVT. LTD.
SAMRIDDHI AUTOMATIONS PVT. LTD.
TATA CONSULTANCY SERVICES
Technology Icons Of India 2023: Madhabi Puri Buch
Madhabi Puri Buch is the chairperson of the securities regulatory body...
Technology Icons Of India 2023: Ajit Balakrishnan
The Company markets specific channels, community features, local langu...
Technology Icons Of India 2023: Som Satsangi
With more than three decades in the IT Sector, Som is responsible for ...
C-DOT enabling India in indigenous design, development and production of telecom technologies
An autonomous telecom R&D centre of Government of India, Center of Dev...
GSTN aims to integrate indirect tax ecosystem on a shared IT infrastructure
Goods and Services Tax Network (GSTN) has built Indirect Taxation plat...
ITI Limited widening its focus area
ITI Limited is a public sector undertaking company, has manufacturing ...
BEETEL TELETECH LTD.
: Beetel is one of the oldest and most reputed brands in the Industry,...
IRIS GLOBAL SERVICES PVT. LTD.
Iris Global services is one of the leading distribution houses that d...
FORTUNE MARKETING PVT. LTD.
Delhi based Fortune Marketing, An ISO 9001:2008 company, distributes ...