Serentica Renewables inks pacts to supply green energy to industries

Serentica Renewables on Monday said it has signed agreements with multiple industrial customers for delivery of over 1.25 GW green energy.

This is in addition to the 580 MW PDAs that were signed in March 2023, the company said in a statement.

"Serentica has signed over 1.25 GW of new Power Delivery Agreements (PDAs) with multiple industrial customers. To ensure the round-the-clock green energy needs of its customers, Serentica will install 4 GW of renewable energy capacities across the country," it said.

The projects will deploy both wind and solar capacities to be 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).

The overall portfolio will supply more than 9 billion units of clean energy annually, thereby offsetting 8.5 million tonnes of CO2, the company said.

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.