Serentica Renewables secures Rs 100 bn contracts

01 Jun 2023

Serentica Renewables has made an exciting announcement regarding the successful contract placement for its upcoming renewable energy projects, amounting to Rs 100 billion. This significant milestone is set to have a considerable impact on India's renewable energy sector, as Serentica aims to develop 1.5 GW of renewable energy capacity throughout the country.

To bring these projects to fruition, Serentica has formed partnerships with renowned renewable energy solution providers like Suzlon, Siemens Gamesa, Jinko Solar, Amara Raja, and others. The company plans to establish solar and wind capacities in Karnataka, Maharashtra, Andhra Pradesh, and Rajasthan, where it has secured connectivity to the inter-state transmission system (ISTS).

In Maharashtra and Karnataka, Serentica has joined forces with industry leaders such as Suzlon, Siemens Gamesa, and Envision for its wind projects. For the solar projects in Rajasthan and Maharashtra, it has enlisted the support of global solar leaders like Jinko Solar and Trina Solar, who will supply the necessary modules.

The Engineering Procurement and Construction (EPC) for these projects will be carried out by Suzlon, Sterling & Wilson, Amara Raja Power Systems, EverRenew, and Rays Power. The commissioning of these projects is scheduled for the fiscal year 2024-25.

Expressing his enthusiasm about these partnerships, Pratik Agarwal, Director of Serentica Renewables, emphasised their importance in advancing the company's mission of industrial decarbonisation. He stated, "We are excited to collaborate with some of the leading renewable energy players in the country as we advance our mission of industrial decarbonisation. 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."

Serentica Renewables envisions supplying more than 40 billion units of clean energy annually in the medium term, thereby displacing 37 million tonnes of CO2 emissions. To support its growth objectives, the company secured definitive agreements worth $650 million with global investor KKR in November 2022.

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