Serentica Secures Landmark Renewable Energy Deal in Textile Sector

Serentica Renewables has signed a 32-MW renewable power purchase agreement with Sanathan Polycot. The agreement includes the creation of a Special Purpose Vehicle, significantly advancing Sanathan's sustainability goals and operations in Punjab. This deal is notable for being the first in the textile sector, marking a milestone in energy sustainability.

In a pioneering move within the textile industry, Serentica Renewables has inked a deal with Sanathan Polycot to provide 32 MW of hybrid renewable energy. This marks the first renewable power purchase agreement in the textile sector, showcasing a critical evolution towards sustainable energy consumption.

The agreement, which includes the establishment of a Special Purpose Vehicle, will see Serentica owning a majority stake while Sanathan holds 26%. The initiative is designed to supply Sanathan Polycot's Punjab facility with clean, reliable power, ensuring consistent manufacturing operations.

Aiming for sustainability, the partnership secures a dependable source of energy, helping Sanathan Polycot reduce emissions and stabilize long-term energy costs. Serentica's CEO, Akshay Hiranandani, emphasized the importance of the deal in supporting the decarbonization of a key pillar in India's manufacturing economy.

(With inputs from agencies.)