{"id":348510,"date":"2020-04-28T11:05:41","date_gmt":"2020-04-28T05:35:41","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=348510"},"modified":"2020-04-28T11:05:41","modified_gmt":"2020-04-28T05:35:41","slug":"shapoorji-pallonji-arm-to-sell-solar-assets-worth-%e2%82%b91554-crore-to-kkr","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/shapoorji-pallonji-arm-to-sell-solar-assets-worth-%e2%82%b91554-crore-to-kkr\/","title":{"rendered":"Shapoorji Pallonji arm to sell solar assets worth \u20b91,554 crore to KKR"},"content":{"rendered":"<p>MUMBAI : The Shapoorji Pallonji Group, which has been making several efforts to monetize its assets to reduce debt, on Monday said its arm Shapoorji Pallonji Infrastructure Capital has signed an agreement to sell 317 megawatts (MW) of solar assets to private equity firm KKR. The total transaction size is worth \u20b91,554 crore (about $204 million).<\/p>\n<p>The sale includes 169MW of solar projects in Maharashtra and 148MW in Tamil Nadu. The deal is part of a wider process at the Shapoorji Group to deleverage its balance sheet.<\/p>\n<p>Shapoorji Group\u2019s debt problems surfaced in November, soon after it took group company Sterling and Wilson Solar Pvt. Ltd public. The Shapoorji Group raised \u20b91,920.6 crore by selling a part of its stake in an initial public offering (IPO), promising investors that part of the proceeds would be used to clear the loans they had taken from Sterling and Wilson. But the promoters soon sought an extension for repaying the loans, blaming \u201csignificant and rapid deterioration in the credit markets&#8221;.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MUMBAI : The Shapoorji Pallonji Group, which has been making several efforts to monetize its assets to reduce debt, on Monday said its arm Shapoorji Pallonji Infrastructure Capital has signed an agreement to sell 317 megawatts (MW) of solar assets to private equity firm KKR. The total transaction size is worth \u20b91,554 crore (about $204 million). The sale includes 169MW of solar projects in Maharashtra and 148MW in Tamil Nadu. The deal is part of a wider process at the Shapoorji Group to deleverage its balance sheet. Shapoorji Group\u2019s debt problems surfaced in November, soon after it took group company [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[139,130,237],"tags":[],"class_list":["post-348510","post","type-post","status-publish","format-standard","hentry","category-live-mint","category-newspapers","category-power-live-mint"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/348510","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=348510"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/348510\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=348510"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=348510"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=348510"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}