US investor buys 317 MW of solar in India


From pv magazine India

U.S. private equity investor KKR has followed up its India investment in Sterlite Power’s grid trust with a deal to acquire five solar energy assets from Mumbai-based infrastructure developer Shapoorji Pallonji Infrastructure Capital (SP Infra).

As per the agreement signed with SP Infra, KKR will acquire five solar energy assets from SP Infra – 169 MWp in Maharashtra and 148 MWp in Tamil Nadu – for a sum of Rs 15.54 billion (approximately US$204 million). 

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Last year, in its first infrastructure investment in Asia, KKR, together with Singapore’s sovereign wealth fund GIC, invested Rs 10.84 billion (US$ 157 million) and Rs 9.80 billion (US$142 million), respectively, to collectively own a 42% stake in power infrastructure investment trust IndiGrid (India Grid Trust or the InvIT).

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