Serentica, NTPC Sign PPA To Supply 200 MW FDRE To UP DISCOMs

Serentica Renewables Gets Capital Infusion of INR 3000 Cr from REC

Serentica Renewables has signed a power purchase agreement with state-run NTPC Ltd to supply 200 MW of firm and dispatchable renewable energy (FDRE) to Uttar Pradesh’s distribution companies (DISCOMS).  The project will combine solar, wind, and battery storage assets across multiple states to deliver on-demand renewable power, particularly during the state’s morning and evening peak hours.

The project, auctioned last year, will be developed across multiple states using Serentica’s hybrid renewable energy infrastructure. The integration of large-scale energy storage will ensure a consistent renewable power supply, even during periods of low generation.

Akshay Hiranandani, CEO of Serentica Renewables, said, “By integrating solar, wind, and advanced storage technologies, we can offer Uttar Pradesh a consistent, firm energy supply, particularly during times of high demand, contributing to the state’s energy transition goals. Our FDRE model ensures that we can deliver clean energy when it’s most needed, contributing to the state’s energy transition” Serentica’s firm dispatchable renewable energy (FDRE) solution aims to provide reliable, cost-effective green power to India’s industrial and commercial sectors, addressing the intermittency challenges of renewable energy.

Serentica Strengthens Position In FDRE Market With New Project Wins

Earlier in 2025, Serentica was among the winners of a competitive tender floated by state-owned SJVN Ltd for 1,200 MW of inter-state transmission system (ISTS)-connected firm and dispatchable renewable energy projects. Other winning developers included ReNew Solar Power, EG Energy Development (Enfinity Global), Dineshchandra R Agrawal Infracon, and Tata Power Renewable Energy.

The SJVN tender, issued in June 2024, offered a greenshoe option of up to an additional 1.2 GW. However, only 448 MW was awarded in the initial round, signaling possible pricing concerns that may have deterred wider participation. Serentica secured 100 MW in the auction with a quoted tariff of ₹4.89/kWh.

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ReNew Solar Power submitted the lowest bid at ₹4.82/kWh for 100 MW, while Dineshchandra R Agrawal Infracon won at ₹4.86/kWh for 100 MW. EG Energy was awarded 60 MW at ₹4.83/kWh, and Tata Power Renewable Energy received 88 MW at the highest tariff of ₹4.91/kWh.

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