Serentica Renewables places contracts worth Rs 10k cr to build its RE projects

For its wind projects coming up in Maharashtra and Karnataka, Serentica has tied up with leading wind players like Suzlon, Siemens Gamesa and Envision, while the modules for its solar projects in Rajasthan and Maharashtra will be supplied by global solar leaders like Jinko Solar and Trina Solar.

Renewable energy platform Serentica Renewables on Wednesday announced the successful placement of contracts worth Rs 10,000 crore for its upcoming renewable energy projects.

The contracts placed upon leading renewable energy solution providers will enable Serentica to develop 1.5 GW of renewable energy capacity in the country, a company statement said. According to the statement, Serentica is setting up solar and wind capacities across Karnataka, Maharashtra, Andhra Pradesh and Rajasthan, where it has secured connectivity to the inter-state transmission system (ISTS). For its wind projects coming up in Maharashtra and Karnataka, Serentica has tied up with leading wind players like Suzlon, Siemens Gamesa and Envision, while the modules for its solar projects in Rajasthan and Maharashtra will be supplied by global solar leaders like Jinko Solar and Trina Solar. The EPC (engineering procurement and construction) for the projects will be executed by Suzlon, Sterling & Wilson, Amara Raja Power Systems, EverRenew, and Rays Power. The projects are scheduled to be commissioned by FY 2024-25.

Pratik Agarwal, Director, of Serentica Renewables, said in the statement, ''In our endeavour to build world-class assets for our customers, these partnerships are a huge step forward''.

Serentica is focused on industrial decarbonisation and aims to provide assured, renewable energy through a combination of solar, wind, energy storage, and balancing solutions. 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 USD 650 million commitment to the company, which includes the latest USD 250 million investment deal, represents one of the largest decarbonisation investments in India to date.

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