Ganz Electric
Ganz Electric
TCI
TCI
Rayzon
Rayzon
Home » News » Serentica to install 4GW of renewable energy capacities across India

Serentica to install 4GW of renewable energy capacities across India

By September 14, 2023 5:57 pm IST

Serentica to install 4GW of renewable energy capacities across India
.

The company has secured INR 2600 crores in funding from PFC for its renewable energy

Serentica Renewables, a leading C&I-focused renewable energy developer in India, announced that it has achieved financial closure for its upcoming hybrid renewable energy projects in Karnataka. The company has secured the entire debt funding of INR 2600 crores from one of India’s largest power sector lenders, Power Finance Corporation Limited.  

The company will install 4GW of renewable energy capacities across the country to ensure the round-the-clock green energy needs of its customers. In the state of Karnataka, the company is setting up 400 MW of wind and solar capacities where it has already secured connectivity to the inter-state transmission system (ISTS). Commenting on the financial milestone, Pratik Agarwal, Director, Serentica Renewables said, “The Debt funding from PFC will accelerate our journey towards supplying 40 billion units of clean energy annually to energy-intensive industries and displacing 37 million tonnes of carbon emissions.”

Advertising

EPR Android App Banner

Commenting on the financial transaction, Parminder Chopra, Chairman & Managing Director, PFC said, “This transaction is in line with PFC’s expanding role in funding green projects and positioning itself as the focal agency for energy transition.” With a vision to accelerate the clean energy transition of hard-to-abate industries, the overall portfolio will supply more than 9 billion of clean energy annually, thereby offsetting 8.5 million tonnes of CO2.

Serentica’s vision is to supply over 40 billion units of clean energy annually in the medium term and displace 37 million tonnes of CO2 emissions. To fuel its growth commitments, Serentica signed definitive agreements with leading global investor KKR in November 2022. KKR’s total $650 million commitment to the company, which includes the latest $250 million investment deal represents one of the largest decarbonisation investments in India to date. With the closure of debt funding from PFC, the company has been able to forge relationships with India’s largest power sector financing institutions. The company is focused on industrial decarbonisation, by making renewables the primary source of energy for the commercial and industrial segment which consumes more than 50 per cent of the electricity generated in India.

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.

Webinar
Webinar
Android App
Android App
EPR EMagazine February 2025
EPR eMagazine February 2025
EPR eMagazine February 2025

Events

India Energy Week
India Energy Week
RenewX
RenewX
Wiretech 2025
Wiretech 2025
India Green Energy Expo
India Green Energy Expo

Our Sponsors

Wika
Wika
Ramelex
Ramelex
Ambionics India
Ambionics India
Rayzon Solar Pvt Ltd
Rayzon Solar Pvt Ltd
Om Technical Solutions
Om Technical Solutions
Harting
Harting
CyanConnode
CyanConnode
Hitachi Energy
Hitachi Energy
Doble Engineering
Doble Engineering
CSE Power
CSE Power
ACD Machine Control
ACD Machine Control
Kusam Meco
Kusam Meco
Nirmal
Nirmal
Apar Industries
Apar Industries
Aramco Asia
Aramco Asia
Axis Electrical
Axis Electrical
Meco Instruments Pvt Ltd
Meco Instruments Pvt Ltd
Neo Tele Tronixl Pvt Ltd
Neo Tele Tronixl Pvt Ltd
ZIEHL ABEGG
ZIEHL ABEGG
Paras Wires
Paras Wires
Waa Cables
Waa Cables
Balaji Switchgears
Balaji Switchgears
AEW
AEW
Gloster Cables Limited
Gloster Cables Limited
Cabex India
Cabex India
Newtech Switchgear
Newtech Switchgear
Vsole Solar
Vsole Solar
Ai Earthing
Ai Earthing
Rectifiers & Electronics
Rectifiers & Electronics
Elev8 Lift
Elev8 Lift
Synthesis Winding Technologies Pvt Ltd
Synthesis Winding Technologies Pvt Ltd
flir system
flir system
Omicron
Omicron
CAT
CAT
ATS Group
ATS Group
Ganz Electric
Ganz Electric
Havells
Havells
Eplan
Eplan
Synergy Transformers
Synergy Transformers
Marosons Electricals
Marosons Electricals
Myriad Industrial Solutions
Myriad Industrial Solutions
EMR
EMR
Teknika
Teknika
AVR
AVR
Indian Transformers
Indian Transformers
Triveni Turbine ltd
Triveni Turbine ltd
Ultra Electric India
Ultra Electric India
Polycab
Polycab
Electrotherment
Electrotherment
Minilec Group
Minilec Group