Serentica Renewables announced on Thursday the successful financial closure of its second External Commercial Borrowing (ECB) financing, securing over $100 million in debt from global financial institutions Rabobank and Société Générale.

The funds will support the development of a 300-megawatt (MW) solar power project in Rajasthan, designed to supply clean energy to Bharat Aluminium Company (BALCO), a leading Indian aluminium producer and subsidiary of the Vedanta Group.

Akshay Hiranandani, CEO of Serentica Renewables, said, “This successful financial close, backed by global partners like Rabobank and Société Générale, is a testament to the growing confidence in our vision to accelerate India’s energy transition.”

This ECB financing milestone underlines Serentica’s commitment to decarbonising India’s hard-to-abate industrial sectors. The company continues to structure innovative financing and build global partnerships to deliver reliable clean energy to large commercial and industrial consumers.

Serentica has also reached a significant capacity milestone, achieving 1,000 MW of renewable energy through projects across multiple states. Its portfolio includes solar, wind, energy storage, and advanced balancing solutions, reinforcing its role in India’s clean energy future.