Infrastructure developer, Shapoorji Pallonji Infrastructure Capital (SP Infra) has agreed to five operational solar energy assets to private equity major KKR for ₹15,54 crore ($204 million).

Both firms have signed the definitive agreements under which SP Infra will sell five operational solar assets portfolio comprising of 169 MW in Maharashtra and 148 MW in Tamil Nadu.

Commenting on the deal, Mukundan Srinivasan, Managing Director of SP Infra, said “This deal further demonstrates SP Infra’s continued track record of developing high-quality infrastructure assets in its chosen spaces, creating value for further growth in its businesses, and be the partner of choice for high-quality international investors like KKR.”

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.

renewable energy opportunities in India and overseas.”

Sanjay Nayar, CEO of KKR India, added, “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.”