KKR to invest $250 million in Serentica Renewables

New Delhi: Renewable energy solutions provider Serentica Renewables on Monday said it has secured an additional investment of $250 million from global investment firm KKR.

Serentica Renewables has signed definitive agreements under which leading global investment firm KKR will invest an additional $250 million in the company, a statement said. This latest funding builds on the $400 million investment from KKR in November 2022. With this, the company is gearing up to install 4000MW of renewable energy capacity that will aid clean energy delivery to large-scale industrial customers.

Serentica has recently signed a new set of Power Delivery Agreements (PDAs) to deliver round-the-clock green energy to some of the leading industrial customers in India. Currently, it is in the process of developing solar and wind power projects across Karnataka, Rajasthan, and Maharashtra.

Once commissioned, these projects will supply 9 billion units of green energy every year, using the inter-state transmission network, thereby decarbonising a large portion of the electricity consumption of the large-scale industrial customers.