Renewable energy solutions provider Serentica Renewables has secured an additional investment of USD 250 million from global investment firm KKR, and signed agreements to close the deal. This altogether builds on the USD 400 million funding received from KKR in November 2022.
With this, the company is well-positioned to install 4000 MW of renewable energy capacity which will aid clean energy delivery to large-scale industrial customers. Serentica has recently signed power delivery agreements (PDAs) to deliver round-the-clock (RTC) green energy to its industrial customers in India.
Currently, the energy solutions company is in the process of developing solar and wind power projects across Karnataka, Rajasthan, and Maharashtra. Once commissioned, these projects will supply nine billion units of green energy annually, using the inter-state transmission network.
This will enable the company to contribute towards decarbonizing a significant part of electricity consumption witnessed in the large-scale industrial and commercial segment.
With its commitment to enable India's energy transition, Serentica aspires to supply over 40 billion units of clean energy annually in the medium term, and displace 50 million tonne of CO2 emissions.
