India: Shapoorji Pallonji group puts entire solar portfolio on the block

The Shapoorji Pallonji (SP) group has put its entire solar portfolio of more 400 megawatts (MW) on the block, two people directly aware of the development said on condition of anonymity. The total value of the transaction for which SP group has appointed Credit Suisse as adviser is expected to be close to Rs1,200 crore, the persons cited above said. The said projects are housed under Shapoorji Pallonji Solar Holdings Pvt. Ltd (SPSHPL), which is a wholly owned and step-down subsidiary of Shapoorji Pallonji & Co. Pvt. Ltd (SPCPL), the group holding company. Both SP group and Credit Suisse declined to comment. SPSHPL was set up in 2011 to act as a holding company for the group’s solar power projects and the company’s portfolio currently comprises seven operational projects aggregating to a total capacity of 272MW and an additional 130MW of capacity which is in development.

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