KKR has signed definitive agreements with Mumbai infrastructure developer Shapoorji Pallonji Infrastructure Capital to acquire a portfolio of five solar assets for $204 million.
The portfolio consists of assets with a capacity of 169 megawatts in the Indian state of Maharashtra and 148 megawatts of assets in the state of Tamil Nadu.
The deal marks KKR’s second investment in India as part of its dedicated Infrastructure strategy. According to the firm, India is a key part of KKR’s Asia infrastructure strategy.
The Indian government is targeting 175 gigawatts of renewable energy capacity by 2022.
“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,” said David Luboff, head of Asia Pacific infrastructure at KKR. “Looking ahead, we are excited to explore even more renewable energy
