Serentica and MRF Collaborate on 170 MW Solar-Wind Hybrid Project

Serentica Renewables partners with MRF Ltd. on a 170 MW solar-wind hybrid project to supply captive power. Under a special purpose vehicle, MRF holds a minority stake. The initiative supports MRF's sustainability goals, using renewable energy solutions to transition industries towards a decarbonized future.

Serentica Renewables has announced the development of a solar-wind hybrid project with a total installed capacity of 170 MW, aimed at supplying captive power to tyre manufacturer MRF Ltd.

A special purpose vehicle has been established for this collaboration, wherein MRF holds a minority stake, leaving the majority with Serentica. The project signifies a substantial leap towards MRF's sustainability and net-zero aspirations.

Serentica's CEO, Akshay Hiranandani, highlighted the strategic use of cutting-edge storage and hybrid solutions in delivering clean and dependable power. The company, backed by a USD 650 million investment from KKR, plans to provide 50 billion units of clean energy annually, contributing to significant CO₂ emission reductions.

(With inputs from agencies.)