Shapoorji Pallonji group, a well-known 152 year-old firm in the construction business, is in talks to sell its solar project portfolio, according to reports published on Livemint, citing anonymous sources.
Understanding that financing at lowest cost is the key to success, the SP group – which posted $5 billion in revenue in 2016, is in discussions with several financial investors.
The company, which is still deciding the size of the portfolio on offer, will fix the value of transaction depending on level of investment and other factors.
Analysts are seeing a pickup in deal activity in India’s green energy market, where many of the India’s power renewable companies are listing for IPOs.
SP group is looking to dispose of its 400 MW photovoltaic portfolio; SP Solar PV private limited subsidiary of SP group has installed 1.6 GW of solar capacity worldwide and is currently building a 118 GW complex in Abu-Dhabi.