Serentica Renewables has placed key contracts for the development of 1.5 GW of renewable energy capacity across the country.
In a release, Serentica Renewables said that it has placed several contracts together valued at Rs.10,000 crore towards the development of 1.5 GW of RE generation capacity.
Serentica 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 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 FY25.
Building world-class assets
Commenting on the milestone, Pratik Agarwal, Director, Serentica Renewables, said, “We are excited to join forces with some of the leading renewable energy players in the country to take forward our mission of industrial decarbonisation. In our endeavour to build world-class assets for our customers, these partnerships are a huge step forward. 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.”
Also read: Serentica Renewables Appoints Akshay Hiranandani As CEO
Industrial decarbonization
Serentica is focused on industrial decarbonization and aims to provide assured, renewable energy through a combination of solar, wind, energy storage, and balancing solutions. Serentica’s vision is to supply over 40 billion units of clean energy annually in the medium term and displace 37 million tonnes of CO2 emissions. To fuel its growth commitments, Serentica signed definitive agreements with 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 decarbonization investments in India to date.
