Hindustan Zinc To Acquire 26% Stake In Serentica Renewables For Rs 350 Cr

Amazon Procures Record 8.3 GW of Renewable Energy in 2022

Reading Time: 1 minutes


As part of its efforts to meet ESG targets, Hindustan Zinc acquires 26% of Serentica Renewables, a newly formed company for Rs 350 crore.


The deal must be approved by regulatory authorities before it can be completed.


The company will invest Rs. 350 crore to acquire a 26 percent stake in a special purpose vehicle (SPV), that was established for the execution of RE power projects. This is in response to the long-term power needs of Hindustan Zinc under PDA.

Hindustan Zinc will hold 26 percent of equity in the Serentica Renewables, while affiliated companies will own the rest. According to a BSE, the project will be funded using a 70/30 debt-to-equity basis.

The SPV will help Hindustan Zinc achieve its environmental goals by setting up captive energy plants in India and providing clear vitality for the agency over a longer-term foundation.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.