Serentica Renewables, an end-to-end energy management solution provider to large-scale energy-intensive industries, has secured an additional $250 million from US investor KKR. The two partners have signed definitive agreements on the investment.
The latest investment builds on KKR’s $400 million investment in November last year. This will support Serentica Renewables in installing 4 GW of renewable energy capacity to supply clean energy for large-scale industrial customers.
Serentica recently signed power delivery agreements (PDAs) to deliver round-the-clock green energy to some of the leading industrial customers in India. Currently, it is in the process of developing solar and wind power projects across Karnataka, Rajasthan, and Maharashtra. Once commissioned, these projects will supply 9 billion units of green energy every year using the inter-state transmission network.
Serentica Renewables is 100% owned by Twinstar Overseas Ltd, a unit of Volcan Investments. Twinstar Overseas also owns controlling stakes in Sterlite Power Transmission and Sterlite Technologies.
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