Serentica Renewables Signs PDA With Vardhman Textiles for 80 MW Wind-Solar Project

Serentica Renewables has entered into a Power Delivery Agreement (PDA) with Vardhman Textiles Limited to supply renewable energy to the textile manufacturer as part of its decarbonisation efforts. Under the agreement, Vardhman Textiles will acquire a minimum 26% equity stake in Serentica’s special purpose vehicle, SRIPL 32.

The project will have a total installed capacity of 80 MW, comprising 40 MW of wind power in Gadag, Karnataka, and 40 MW of solar capacity in Fatehgarh, Rajasthan.

The project is expected to achieve a Capacity Utilisation Factor (CUF) of approximately 75% and supply around 177 million units of round-the-clock (RTC) renewable power to Vardhman Textiles’ facilities in Himachal Pradesh.

Vardhman Textiles, one of India’s largest vertically integrated textile manufacturers, operates multiple production facilities across the country. The renewable power supply is expected to support the company’s efforts to increase the share of clean energy in its operations.

Shilpy Dewan, Chief Business Officer, Serentica Renewables, said the partnership with Vardhman Textiles demonstrates the growing importance of reliable, high-CUF renewable power for energy-intensive industries. She added that Serentica is focused on making renewable energy a dependable foundation for India’s industrial growth.

S K Jhamb, Director (Raw Material) and Chief Sustainability Officer, Vardhman Textiles, said the PDA represents an important milestone in the company’s efforts to reduce greenhouse gas emissions and increase renewable energy adoption across its operations.

According to Vardhman Textiles, the arrangement is expected to enable the company to meet around 56% of its power requirements through green energy and reduce its carbon footprint by approximately 125,883 tonnes.

The partnership further expands Serentica Renewables’ portfolio of renewable energy solutions for commercial and industrial (C&I) consumers. The company is developing large-scale projects combining wind, solar and associated power infrastructure to meet the evolving energy requirements of India’s industrial sector.