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Business News/ Industry / Energy/  Serentica Renewables secures 10,000 cr contracts for 1.5 GW projects

New Delhi: Serentica Renewables on Wednesday announced the successful placement of contracts worth 10,000 crore for its upcoming projects to develop 1.5 GW of renewable energy capacity in the country.

“Serentica is setting up solar and wind capacities across the states of Karnataka, Maharashtra, Andhra Pradesh, and Rajasthan where it has secured connectivity to the inter-state transmission system (ISTS)," the company said in a press release.

For its wind projects in Maharashtra and Karnataka, the company has tied up with firms such as Suzlon, Siemens Gamesa, and Envision. Solar modules at its projects in Rajasthan and Maharashtra will be supplied by Jinko Solar and Trina Solar.

“The EPC (Engineering Procurement and Construction) for the projects will be executed by Suzlon, Sterling & Wilson, Amara Raja Power Systems, EverRenew, and Rays Power. The projects are scheduled to be commissioned by FY 2024-25," it added.

“In our endeavour to build world-class assets for our customers, these partnerships are a huge step forward. We look forward to working with the industry veterans and with their support, march ahead in our vision of reversing climate change and creating a greener tomorrow," said Pratik Agarwal, director, Serentica Renewables.

The company envisions supplying over 40 billion units of clean energy annually in the medium term and displace 37 million tonnes of CO2 emissions. To support its growth goals, Serentica secured definitive agreements worth $650 million with global investor KKR in November 2022.

Serentica Renewables India Pvt. Ltd, backed by KKR, has signed deals to supply 2.5 gigawatt (GW) of renewable energy to commercial and industrial consumers, said director Pratik Agarwal.This move follows the firm’s announcement of a definitive agreement with KKR to secure a $250-million funding.

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Updated: 07 Jun 2023, 02:17 PM IST
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