Additional $250 million invested in Serentica Renewables by KKR

04 May 2023 CW Team

Serentica will be able to increase its power supply agreements with three Vedanta group firms from the current 3 billion units of renewable power yearly to 9 billion units thanks to the additional funding from KKR. According to Pratik Agarwal, Director, Serentica Renewables, "Serentica was formed in March 2022 and it signed PDAs (power delivery agreements) with three Vedanta companies active in the metals and mining space to supply 3 billion units of renewable power annually.

"Over the course of the subsequent six months, all three units expressed their desire to acquire more renewable energy as they were experiencing a coal shortage, preparing for the EU's carbon border adjustment mechanism to go into effect in January 2026, and feeling compelled to take advantage of the ISTS waiver that was available until June 2025. In order to bring the entire contract up to 9 billion units annually, we secured additional contracts for 6 billion units.

Vedanta will decarbonise 20% of its energy base with this new supply, making it one of the world's most aggressive decarbonisation initiatives, continued Agarwal. Serentica is installing over 4,000 MW of renewable energy generation capacity, of which 60% will come from solar energy and 40% from wind energy, for the provision of 9 billion units of green power. While the wind farms will be situated in Maharashtra, Karnataka, and Andhra Pradesh, the solar plants will be situated in Rajasthan and Karnataka.

Serentica Renewables, a Vedanta group entity that specialises in providing green energy to enable industrial units in decarbonising their operations, announced that it had signed agreements with KKR for an additional $250 million investment in the business. The $400 million investment from KKR in November 2022 is expanded upon by this most recent investment. According to Hardik Shah, Partner, KKR, As India continues to develop at a rapid pace, clean energy solutions will play a growing and significant role in meeting the country's energy demands, especially in the industrial and difficult-to-abate industries that Serentica looks to support. Serentica will be able to increase its power supply agreements with three Vedanta group firms from the current 3 billion units of renewable power yearly to 9 billion units thanks to the additional funding from KKR. According to Pratik Agarwal, Director, Serentica Renewables, Serentica was formed in March 2022 and it signed PDAs (power delivery agreements) with three Vedanta companies active in the metals and mining space to supply 3 billion units of renewable power annually. Over the course of the subsequent six months, all three units expressed their desire to acquire more renewable energy as they were experiencing a coal shortage, preparing for the EU's carbon border adjustment mechanism to go into effect in January 2026, and feeling compelled to take advantage of the ISTS waiver that was available until June 2025. In order to bring the entire contract up to 9 billion units annually, we secured additional contracts for 6 billion units. Vedanta will decarbonise 20% of its energy base with this new supply, making it one of the world's most aggressive decarbonisation initiatives, continued Agarwal. Serentica is installing over 4,000 MW of renewable energy generation capacity, of which 60% will come from solar energy and 40% from wind energy, for the provision of 9 billion units of green power. While the wind farms will be situated in Maharashtra, Karnataka, and Andhra Pradesh, the solar plants will be situated in Rajasthan and Karnataka.

Infrastructure Urban

05 Nov 2025

TBO Tek Q2 Profit Climbs 12%, Revenue Surges 26% YoY

TBO Tek Limited one of the world’s largest travel distribution platforms, reported a solid performance for Q2 FY26 with a 26 per cent year-on-year increase in revenue to Rs 5.68 billion, reflecting broad-based growth and improving profitability.The company recorded a Gross Transaction Value (GTV) of Rs 8,901 crore, up 12 per cent YoY, driven by strong performance across Europe, MEA, and APAC regions. Adjusted EBITDA before acquisition-related costs stood at Rs 1.04 billion, up 16 per cent YoY, translating into an 18.32 per cent margin compared to 16.56 per cent in Q1 FY26. Profit after tax r..

Infrastructure Energy

05 Nov 2025

Northern Graphite, Rain Carbon Secure R&D Grant for Greener Battery Materials

Northern Graphite Corporation and Rain Carbon Canada Inc, a subsidiary of Rain Carbon Inc, have jointly received up to C$860,000 (€530,000) in funding under the Canada–Germany Collaborative Industrial Research and Development Programme to develop sustainable battery anode materials.The two-year, C$2.2 million project aims to transform natural graphite processing by-products into high-performance, battery-grade anode material (BAM). Supported by the National Research Council of Canada Industrial Research Assistance Programme (NRC IRAP) and Germany’s Federal Ministry for Economic Affairs a..

Infrastructure Urban

05 Nov 2025

Antony Waste Q2 Revenue Jumps 16%; Subsidiary Wins Rs 3,200 Cr WtE Projects

Antony Waste Handling Cell Limited (AWHCL), a leading player in India’s municipal solid waste management sector, announced a 16 per cent year-on-year increase in total operating revenue to Rs 2.33 billion for Q2 FY26. The growth was driven by higher waste volumes, escalated contracts, and strong operational execution.EBITDA rose 18 per cent to Rs 570 million, with margins steady at 21.6 per cent, while profit after tax stood at Rs 173 million, up 13 per cent YoY. Revenue from Municipal Solid Waste Collection and Transportation (MSW C&T) reached Rs 1.605 billion, and MSW Processing re..