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

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