Serentica Secures US$345.1 mn Loan For Karnataka Hybrid Project

14 Jul 2026 CW Team

The project will comprise 191.4 megawatt (MW) of ground-mounted solar photovoltaic capacity and 204 MW of wind power, designed to deliver round-the-clock renewable energy under a group captive model. The project will supply clean electricity to Bharat Aluminium Company Limited (BALCO) and is aligned with the purchaser's objective of achieving net-zero emissions by 2050. The solar and wind facilities will be located across dedicated sites in Karnataka and connected through integrated transmission infrastructure.

Outputs are estimated at 1,073 GWh of renewable generation annually and avoided emissions of more than 880,000 t of carbon dioxide each year. The integrated transmission and evacuation arrangements are intended to enable efficient dispatch of the combined resource and support firm supply to offtakers. Project planners expect additional benefits in grid stability and the demonstration of large-scale hybrid integration.

The arrangement is expected to create local employment opportunities and to promote gender inclusion through leadership development initiatives and workplace policy reforms. Serentica's management said the partnership with ADB reinforces the company's strategy to expand its portfolio of renewable energy, storage and round-the-clock power solutions and to support decarbonisation of energy-intensive industries. The financing marks a milestone in delivering scalable clean energy to industrial customers.

"Join industry leaders at RAHSTA Expo, India's premier platform for roads, highways and traffic infrastructure. Register now to explore innovations, network with experts and shape the future of mobility."

Serentica Renewables has secured a loan agreement for up to US$345.1 mn to develop and refinance a large-scale solar-wind hybrid project in Koppal, Karnataka through its special purpose vehicle Serentica Renewables India 1 Private Limited (SRI 1). The financing is led by the Asian Development Bank (ADB), which will provide up to US$138 mn from its own resources and has mobilised up to US$207.1 mn from the Export-Import Bank of India, New Development Bank and Sumitomo Mitsui Banking Corporation. The facility is intended to support construction and early operations of the hybrid assets. The project will comprise 191.4 megawatt (MW) of ground-mounted solar photovoltaic capacity and 204 MW of wind power, designed to deliver round-the-clock renewable energy under a group captive model. The project will supply clean electricity to Bharat Aluminium Company Limited (BALCO) and is aligned with the purchaser's objective of achieving net-zero emissions by 2050. The solar and wind facilities will be located across dedicated sites in Karnataka and connected through integrated transmission infrastructure. Outputs are estimated at 1,073 GWh of renewable generation annually and avoided emissions of more than 880,000 t of carbon dioxide each year. The integrated transmission and evacuation arrangements are intended to enable efficient dispatch of the combined resource and support firm supply to offtakers. Project planners expect additional benefits in grid stability and the demonstration of large-scale hybrid integration. The arrangement is expected to create local employment opportunities and to promote gender inclusion through leadership development initiatives and workplace policy reforms. Serentica's management said the partnership with ADB reinforces the company's strategy to expand its portfolio of renewable energy, storage and round-the-clock power solutions and to support decarbonisation of energy-intensive industries. The financing marks a milestone in delivering scalable clean energy to industrial customers.

Real Estate

14 Jul 2026

Paradigm Realty secures Rs 1 billion for Chembur project

Paradigm Realty Group has secured Rs 1 billion in funding from Arnya RealEstates Fund for its flagship residential project, 71 Midtown, in Chembur, Mumbai.The institutional investment will be used to support the completion of Phases 1 and 2 of the development, with the financing aligned to the project's construction and delivery schedule.Spread across approximately 4.5 acres, the gated residential community comprises one- and two-bedroom apartments. Located near Sindhi Society in Chembur, the project offers connectivity to the Bandra Kurla Complex (BKC) and is expected to benefit from infrastr..

Real Estate

14 Jul 2026

PCPL delivers 1.4 million sq ft, eyes 2.1 million sq ft pipeline

Pranav Constructions (PCPL) has delivered more than 1.4 million sq ft of redeveloped residential space across Mumbai as of March 2026, while outlining a future pipeline exceeding 2.1 million sq ft across key redevelopment markets.Over the past decade, the Mumbai-based developer has completed 28 redevelopment projects, benefiting more than 2,450 families across the city's western suburbs, including Borivali, Kandivali, Malad and Goregaon. Since 2023, the company has expanded into neighbourhoods such as Santacruz, Bandra, Andheri and Vile Parle, while also entering heritage precincts including M..

Products

14 Jul 2026

Shalimar Paints launches premium Xtra Tough Hi-Sheen

Shalimar Paints has expanded its premium product portfolio with the launch of Xtra Tough Hi-Sheen, a new exterior emulsion developed to provide enhanced weather protection and a high-sheen finish for residential buildings.The company said the product is designed to address growing consumer demand for exterior coatings that combine aesthetics with long-term durability. Suitable for both new construction and renovation projects, the emulsion is formulated to withstand varied climatic conditions, including heat, rain, humidity and pollution.Xtra Tough Hi-Sheen features a dust-repellent coating in..