Serentica Renewables has entered into an agreement with Greenko Group for 1.5 GWh of energy storage capacity as part of its plans to provide round-the-clock supply of renewable energy to its various industrial clients. The company will be using pump storage capacity from Greenko’s upcoming off-stream closed-loop projects in Pinnapuram, Andhra Pradesh, and Gandhi Sagar, Madhya Pradesh as part of this collaboration.
Recently in November 2022, KKR and Serentica Renewables signed definitive agreements under which KKR will be investing $400 million in Serentica Renewables. KKR stated that the investment was made as part of its Asia Pacific infrastructure strategy.
Also in September 2022, Hindustan Zinc acquired a 26 per cent stake in Serentica Renewables India, a special purpose vehicle for Rs 3.5 billion.