Serentica signs deals for 1.25 GW of round-the-clock green energy

The developer will install 4 GW of renewable energy projects comprising wind and solar capacities, supplemented with balancing solutions like energy storage. The power generated will allows its industrial customers to offset 8.5 million tonnes of CO2 emissions annually.

July 3, 2023 Uma Gupta

Akshay Hiranandani, chief executive officer of Serentica Renewables

Image: Serentica Renewables

Serentica Renewables, an industrial decarbonization platform backed by Sterlite Power, announced today that it has signed over 1.25 GW of new power delivery agreements (PDAs) with multiple industrial customers. The company stated the new deals are in addition to the 580 MW PDAs signed in March 2023.

Serentica will install 4 GW of renewable energy capacities across the country to meet the round-the-clock green energy needs of its customers. The projects will comprise 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).

The overall portfolio will supply more than 9 billion units (Bus) of clean energy annually, thereby helping hard-to-abate industries to offset 8.5 million tonnes of CO2.

Established in 2022, Serentica Renewables (India) aims to provide assured renewable energy to large-scale, energy-intensive industries through a combination of solar, wind, energy storage, and balancing solutions. The company has already secured investments worth $650 million from global investor KKR.

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