Serentica Renewables Signs 1.25 GW Round-The-Clock Green Energy Agreements
The Company will install 4GW of renewable capacities that will help in offsetting 8.5 million tonnes of CO2 emissions annually
New Delhi, July 03, 2023 – Serentica Renewables ("Serentica" or the "Company") announced that it has signed over 1.25 GW of new Power Delivery Agreements (PDAs) with multiple industrial customers. This is in addition to the 580 MW PDAs that were signed in March 2023.
To ensure the round-the-clock green energy needs of its customers, Serentica will install 4 GW of renewable energy capacities across the country. The projects will deploy both wind and solar capacities, supplemented with balancing solutions like energy storage. Serentica is setting up these 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).
With a vision to accelerate the clean energy transition of hard-to-abate industries, the overall portfolio will supply more than 9 BUs of clean energy annually, thereby offsetting 8.5 million tonnes of CO2.
Speaking on the significant increase in the Company's portfolio, Akshay Hiranandani, CEO of Serentica Renewables, said, "India's energy transition must progress unabated to meet the dual objectives of its ever-increasing energy requirements and the fight against climate change. Serentica's growing portfolio of renewable energy assets is a testament to its commitment to address the toughest challenges of clean energy delivery and decarbonize India's industrial backbone."
Serentica is focused on industrial decarbonization and aims to provide assured, renewable energy through a combination of solar, wind, energy storage, and balancing solutions. Serentica's medium-term goal is to supply over 40 billion units of clean energy annually and displace 37 million tonnes of CO2 emissions.
About Serentica Renewables
Established in 2022, Serentica Renewables (India) is a decarbonization platform that 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 decarbonization, by making renewables the primary source of energy for the commercial and 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. The company has already secured investments worth $650 million from leading global investor KKR.
For more details on Serentica, please visit www.serenticaglobal.com
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