Serentica Renewables Secures Rs 10,000 Cr Partner Contracts For Phase 1

Serentica Renewables secured contracts worth INR 10,000 crore for its upcoming renewable energy projects.

The contracts placed upon leading renewable energy solution providers will enable Serentica to develop 1.5 GW of RE capacity in the country.

The renewable firm is setting up 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).

For its wind projects coming up in Maharashtra and Karnataka, Serentica has tied up with leading wind players like Suzlon, Siemens Gamesa, and Envision while the modules for its solar projects in Rajasthan and Maharashtra will be supplied by global solar leaders like Jinko Solar and Trina Solar. The EPC (Engineering Procurement and Construction) for the projects will be executed by Suzlon, Sterling & Wilson, Amara Raja Power Systems, EverRenew, and Rays Power. The projects are scheduled to be commissioned by FY 2024-25.

Pratik Agarwal, Director, of Serentica Renewables, said, “We look forward to working with the industry veterans and with their support, march ahead in our vision of reversing climate change and creating a greener tomorrow.”

To fuel its growth commitments, Serentica signed definitive agreements with leading global investor KKR in November 2022. KKR’s total $650 million commitment to the company, which includes the latest $250 million investment deal, represents one of the largest decarbonisation investments in India to date.