Serentica Renewables has announced the successful placement of contracts worth INR 10,000 crore for its upcoming renewable energy projects. The contracts, awarded to leading renewable energy solution providers, will enable Serentica to develop 1.5 GW of RE capacity in India.
Serentica has strategically chosen locations in Karnataka, Maharashtra, Andhra Pradesh, and Rajasthan, where it has secured connectivity to the inter-state transmission system (ISTS), to establish solar and wind capacities. The company has partnered with renowned wind players, including Suzlon, Siemens Gamesa, and Envision, for its wind projects in Maharashtra and Karnataka. For its solar projects in Rajasthan and Maharashtra, Serentica will rely on global solar leaders such as Jinko Solar and Trina Solar to provide modules. EPC responsibilities will be carried out by Suzlon, Sterling & Wilson, Amara Raja Power Systems, EverRenew, and Rays Power. The projects are slated for commissioning by the fiscal year 2024-25.
Expressing enthusiasm, Pratik Agarwal, Director of Serentica Renewables, emphasized the company’s commitment to industrial decarbonization. Agarwal highlighted the partnerships with leading renewable energy players as a significant stride towards their mission, aimed at building world-class assets and realizing a greener future.
Serentica’s vision focuses on industrial decarbonization and aims to provide reliable and renewable energy through a combination of solar, wind, energy storage, and balancing solutions. Their ambitious goal is to supply over 40 billion units of clean energy annually and displace 37 million tonnes of CO2 emissions. To support its growth objectives, Serentica entered into definitive agreements with global investor KKR in November 2022. KKR’s substantial commitment of $650 million, which includes the latest $250 million investment deal, stands as one of the largest decarbonization investments in India to date.
Serentica Renewables’ substantial contracts and partnerships underscore its dedication to driving sustainable energy solutions and contribute to the nation’s renewable energy targets.