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19th Apr 2023
New Delhi, April 19, 2023 – Serentica Renewables (“Serentica” or the “Company”), a decarbonisation platform that seeks to accelerate the energy transition for energy-intensive industries, announced the appointment of Akshay Hiranandani as the Chief Executive Officer. In this role, Akshay will work closely with Pratik Agarwal, Director, Serentica Renewables.
Commenting on the appointment, Pratik Agarwal, Director, Serentica Renewables, said, “We are elated to have Akshay Hiranandani take over the role as the CEO of Serentica Renewables. Akshay has been with the Group since 2021 and has proven himself as a leader with strong understanding of Serentica’s business, culture, and people. With him at the helm, we are confident that he will steer Serentica towards its mission of reversing climate change by enabling large scale industrial decarbonisation.”
Akshay served as the Corporate Finance lead for Serentica from 2021 to 2023. Under his leadership, Serentica executed the strategic capital raise for the organisation. In the career spanning two decades, Akshay has spearheaded a series of high-impact capital infrastructure investments and has worked in renewable IPP platforms, like SunEdison and Skypower, developing 1+ gigawatt of projects.
Akshay Hiranandani said, “The renewable energy industry is at an inflection point where customer’s expectation is to receive stable green power which can be met only with technological and design innovations. In this exciting phase of the industry, Serentica is committed to delivering round-the-clock renewable power to aid decarbonisation of high carbon emitting industries.”
Serentica is focused on industrial decarbonisation and aims to provide assured, renewable energy through a combination of solar, wind, energy storage and balancing solutions. Currently, the Company has entered into three long-term Power Delivery Agreements (PDAs) and is in the process of developing ~1,500 MW of solar and wind power projects across various states. Serentica’ s medium term goal is to supply over 16 billion units of clean energy annually and displace 20 million tonnes of CO2 emissions.
In November 2022, Serentica announced an investment deal of $400 million from global investment firm, KKR & Co.
About Serentica Renewables
Established in 2022, Serentica Renewables (India) is jointly held by Greenlake Asia Holdings II PTE Limited (“KKR”) and Twinstar Overseas Limited (“TSOL”). TSOL also owns controlling stakes in Sterlite Power Transmission Limited and Sterlite Technologies Limited. Serentica Renewables looks to provide round-the-clock clean energy solutions enabling the transition of large-scale, energy-intensive industries to clean energy. The company is focused on industrial decarbonisation, by making renewables the primary source of energy for the commercial & industrial segment which consumes more than 50% of the electricity generated in India. Serentica aims to provide assured renewable energy through a combination of solar, wind, energy storage and balancing solutions. In November 2022, in one of the largest decarbonisation investments in India to date, the company secured $400 million investment from global investment firm, KKR.
For more details on Serentica, please visit www.serenticaglobal.com
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