Serentica  Renewables gets Rs 10,000 cr green energy deals

Serentica Renewables gets Rs 10,000 cr green energy deals

Serentica Renewables announced the successful placement of contracts totaling INR 10,000 crore for its upcoming renewable energy projects in New Delhi.

Serentica plans to develop 1.5 GW of renewable energy capacity across India, a significant boost to the country’s renewable energy sector.

Serentica has collaborated with leading renewable energy solution providers such as Suzlon, Siemens Gamesa, Jinko Solar, Amara Raja, and others to realise its projects. The company will build solar and wind capacity in Karnataka, Maharashtra, Andhra Pradesh, and Rajasthan, where it has secured interstate transmission system connectivity (ISTS).

Serentica has partnered with wind industry leaders such as Suzlon, Siemens Gamesa, and Envision for its wind projects in Maharashtra and Karnataka. Meanwhile, global solar industry leaders like Jinko Solar and Trina Solar will supply modules for Serentica’s solar projects in Rajasthan and Maharashtra.

Suzlon, Sterling & Wilson, Amara Raja Power Systems, EverRenew, and Rays Power will handle the project’s Engineering, Procurement, and Construction (EPC). The completion of these projects is planned for fiscal year 2024-25.

Pratik Agarwal, Director of Serentica Renewables, expressed enthusiasm about the partnerships, stating, “We are excited to collaborate with some of the leading renewable energy players in the country as we advance our mission of industrial decarbonization. These partnerships are a significant step forward in our efforts to build world-class assets for our customers. With the support of industry veterans, we aim to reverse climate change and create a greener tomorrow.”

In the medium term, the company hopes to supply over 40 billion units of clean energy per year while displacing 37 million tonnes of CO2 emissions. Serentica secured definitive agreements worth $650 million with global investor KKR in November 2022 to support its growth objectives.

Content Credit: ET EnergyWorld