Serentica Renewables has signed an agreement with Greenko Group to source 1.5 GWh of energy storage capacity as it seeks to provide round-the-clock, firm, and dispatchable renewable energy to its various industrial clients.
As part of this partnership, Serentica will leverage pump storage capacity from Greenko’s upcoming off-stream closed-loop projects at Pinnapuram in Andhra Pradesh and Gandhi Sagar in Madhya Pradesh.
Serentica aims to provide assured, renewable energy through a combination of solar, wind, energy storage, and balancing solutions. The company has signed three long-term power purchase agreements (PPAs) and is in the process of developing 1.5 GW of solar and wind power projects across various states including Karnataka, Rajasthan, and Maharashtra.
Over the medium term, Serentica aims to install 5 GW of carbon-free generation capacity coupled with different storage technologies and supply over 16 billion units of clean energy annually, and displace 20 million tonnes of CO2 emissions.
Serentica recently raised $400 million from global investor KKR.
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