Promonique
Promonique
EPR Subscription Banner
EPR Subscription Banner
Promonique Banner
Promonique Banner
Home » News » Serentica Renewables secures ₹3500 crores for 530 MW renewable project in India

Serentica Renewables secures ₹3500 crores for 530 MW renewable project in India

January 8, 2024 2:52 pm

Serentica Renewables secures ₹3500 crores for 530 MW renewable project in India
.

Landmark $425m loan fuels major hybrid renewable project, accelerating India’s green energy transition goals.

Serentica Renewables, a prominent renewable energy developer focused on Commercial and Industrial (C&I) projects in India, has officially announced the successful signing of its inaugural international commercial bank foreign currency loan valued at INR 3,500 crores (US$425 million). This financing arrangement is dedicated to Serentica’s Round-The-Clock renewable energy initiative in India and involves a consortium comprising three international banks (Rabobank, MUFG Bank, Société Générale) and three Indian lenders (YES Bank, Export-Import Bank of India, India Infrastructure Finance Company). Notably, Rabobank has played a pivotal role as the exclusive structuring bank for this loan facility.

This historic transaction is poised to support Serentica in the funding of its 530 MW hybrid (wind and solar) renewable energy project, strategically located in Rajasthan and Maharashtra. The primary objective of this project is to supply clean energy to one of India’s largest zinc producers, Hindustan Zinc. By replacing 24 percent of their coal-based power supply with reliable dispatchable green power, the initiative aims to substantially mitigate the carbon footprint associated with their operations.

Commenting on the milestone,  Pratik Agarwal, Chairman, Serentica Renewables said, “We thank our banking partners, who have trusted us with the first ever dollar loan for a C&I project in India. We will work harder to build on this trust.”

Amardeep Parmar, Head – Project Finance Asia, Rabobank said, “Rabobank is pleased to lead and structure this landmark renewable transaction in the C&I segment. We look forward to partner with Serentica in their future energy transition endeavours.”

Cookie Consent

We use cookies to personalize your experience. By continuing to visit this website you agree to our Terms & Conditions, Privacy Policy and Cookie Policy.

Tags: Renewables
Omicron
Omicron
Dhasho
Dhasho
Power Talk
Webinar
Webinar
Android App
Android App
EPR eMagazine June 2024
EPR eMagazine June 2024
EPR eMagazine June 2024

Events

Global Energy Digitalisation Conclave
Global Energy Digitalisation Conclave
India Energy Storage Week
India Energy Storage Week
World battery and energy storage industry expo
World battery and energy storage industry expo
Green Hydrogen Summit
Green Hydrogen Summit
Powergen
Powergen
The Building Envelope Design and Insulation Conference
The Building Envelope Design and Insulation Conference
Windergy
Windergy

Our Sponsors

Rayzon Solar Pvt Ltd
Rayzon Solar Pvt Ltd
Andritz Hydro Pvt Ltd
Andritz Hydro Pvt Ltd
Lawson Fuses
Lawson Fuses
Allied Power Solutions
Allied Power Solutions
Nirmal
Nirmal
Maco Corporation India Pvt Ltd
Maco Corporation India Pvt Ltd
Meco Instruments Pvt Ltd
Meco Instruments Pvt Ltd
Icon Solar-En Power
Icon Solar-En Power
ZIEHL ABEGG
ZIEHL ABEGG
Novasys
Novasys
Bask Energies
Bask Energies
Mecc-Alte India
Mecc-Alte India
Supcon
Supcon
ET Transformers
ET Transformers
Omicron
Omicron
DEIF
DEIF
Sudhir Power
Sudhir Power
Dhash
Dhash
Intello
Intello
CAT
CAT
Innovatek
Innovatek
Aeron Composite Pvt Ltd
Aeron Composite Pvt Ltd
Radicon Powerbuild
Radicon Powerbuild
MENNEKES Electric India
MENNEKES Electric India
Om Technical Solutions
Om Technical Solutions
PRAMA HIKVISION INDIA
PRAMA HIKVISION INDIA