Serentica Renewables (Serentica), a renewable energy platform enabling industrial decarbonization, announced that it had placed contracts worth INR 10,000 crore ($1.21 billion) for its upcoming renewable energy projects. The agreements signed with renewable energy solution providers will enable Serentica to develop 1.5 GW of RE capacity in the country.
Serentica is setting up solar and wind power generation capacities in Karnataka, Maharashtra, Andhra Pradesh, and Rajasthan, where it has secured connectivity to the inter-state transmission system (ISTS).
Serentica has tied up with turbine players like Suzlon, Siemens Gamesa, and Envision for its wind projects coming up in Maharashtra and Karnataka, while Jinko Solar and Trina Solar will supply modules for its solar projects in Rajasthan and Maharashtra. Suzlon, Sterling & Wilson, Amara Raja Power Systems, EverRenew, and Rays Power will execute the projects’ EPC (engineering procurement and construction).
The projects are scheduled for commissioning by FY 2024-25.
Established in 2022, Serentica Renewables (India) looks to provide round-the-clock clean energy solutions enabling the transition of large-scale, energy-intensive industries to clean energy. 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 includes the latest $250 million investment deal.
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