Statkraft to Sell 1.5 GWp Renewable Portfolio in India to Serentica Renewables

Statkraft, Europe’s largest producer of renewable energy, has signed an agreement to sell part of its Indian renewable energy portfolio to Serentica Renewables. The transaction covers approximately 1.5 GWp of capacity in Rajasthan, including the 445 MWp Khidrat solar plant—commissioned earlier this year—and a pipeline of solar and wind projects under development with an estimated capacity of 1,000 MWp. The deal remains subject to customary conditions precedent and any required regulatory approvals. “We are very pleased with this transaction. Serentica Renewables is a fast-growing renewable energy company with high ambitions. We are confident that they will continue to operate and develop these assets with competence and commitment, contributing to India’s green energy transition. I am also glad that this offers new opportunities for our competent employees following the transaction,” says Fernando de Lapuerta, Executive Vice President International in Statkraft.

The Norwegian state-owned company first entered the Indian market in 2004 through its stake in SN Power, the country’s first foreign investor in the hydropower sector. Over the past two decades, Statkraft has built a diversified portfolio of solar, wind, and hydropower assets, alongside power trading operations across multiple Indian states. Pratik Agarwal, Chairman, Serentica Renewables, said: “This acquisition accelerates Serentica’s journey in becoming a leading contributor to India’s renewable energy transition. By integrating Statkraft’s high-quality assets with our growth platform, we are strengthening our ability to deliver round-the-clock green power at scale and unlocking long-term value for all our stakeholders.”