Serentica Renewables Seals 1.25 GW Round-The-Clock Green Energy Agreements

Serentica Renewables Gets Capital Infusion of INR 3000 Cr from REC

Serentica Renewables has announced that it has signed over 1.25 GW of new Power Delivery Agreements (PDAs) with multiple industrial customers. This is in addition to the 580 MW PDAs that were signed in March 2023.

To ensure the round-the-clock green energy needs of its customers, Serentica will install 4 GW of renewable energy capacities across the country. The projects will deploy both wind and solar capacities, supplemented with balancing solutions like energy storage. Serentica is setting up these solar and wind capacities across the states of Karnataka, Maharashtra, Andhra Pradesh, and Rajasthan, where it has secured connectivity to the inter-state transmission system (ISTS).

With a vision to accelerate the clean energy transition of hard-to-abate industries, the overall portfolio will supply more than 9 BUs of clean energy annually, thereby offsetting 8.5 million tonnes of CO2.

Speaking on the increase in the firm’s portfolio, Akshay Hiranandani, CEO of Serentica Renewables, said, “India’s energy transition must progress unabated to meet the dual objectives of its ever-increasing energy requirements and the fight against climate change. Serentica’s growing portfolio of renewable energy assets is a testament to its commitment to address the toughest challenges of clean energy delivery and decarbonize India’s industrial backbone.”

The Vedanta backed Serentica is focused on industrial decarbonization and aims to provide assured, renewable energy through a combination of solar, wind, energy storage, and balancing solutions. Serentica’s medium-term goal is to supply over 40 billion units of clean energy annually and displace 37 million tonnes of CO2 emissions.

Recently, it had announced successful placement of contracts worth INR 10,000 crore for its upcoming renewable energy projects. The contracts placed upon leading renewable energy solution providers will enable Serentica to develop 1.5 GW of renewable energy capacity in India. Recently, a power delivery agreement (PDA) had also been signed between Serentica Renewables India Pvt (Serentica SRIPL) and Sterlite Copper, a subsidiary of Vedanta. In another announcement, Serentica has placed an order with Suzlon’s 3 MW series wind turbine generators for its upcoming 204 MW wind power project at Koppal in Karnataka.

 Established in 2022, Serentica Renewables (India) has already secured investments worth $650 million from leading global investor KKR.