The Shapoorji Pallonji Group has put solar portfolio of over 400 MW on the block.
The company has appointed Credit Suisse as adviser. The total value of the transaction is expected to be close to Rs 1,200 crore.
The projects are under the umbrella of Shapoorji Pallonji Solar Holdings (SPSHPL), which is a wholly owned subsidiary of Shapoorji Pallonji and Company.
SPSHPL was set up as the holding company for Shapoorji Pallonji Group’s solar power projects. The company’s portfolio seven operational projects, with an agreegate total capacity of 272 MW and an additional 130 MW is under development.
The solar projects are spread across Tamil Nadu, Telangana, Rajasthan and Maharashtra.
The group was seeking a financial investor for its solar portfolio to sell a partial stake and was in discussions with various investors.
However, it has now decided to sale its entire solar portfolio and has begun discussions with potential buyers.