Serentica Renewables announced that it has signed over 1.25 GW of new Power Delivery Agreements (PDAs) with multiple industrial customers. This is in addition to the 580 MW PDAs that were signed in March 2023. To ensure the round-the-clock (RTC) green energy needs of its customers, Serentica will install 4 GW of renewable energy capacities across the country. The projects will deploy both wind and solar capacities, 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). With a vision to accelerate the clean energy transition of hard-to-abate industries, the overall portfolio will supply more than 9 BUs of clean energy annually, thereby offsetting 8.5 million tonnes of carbon dioxide.
In June 2023, Serentica Renewables announced the successful placement of contracts worth Rs 100 billion for its planned renewable energy projects. This announcement provided a significant boost to the country’s renewable energy sector. The agreements made with top suppliers of renewable energy solutions would allow Serentica to build 1.5 GW of renewable energy capacity in the country.
In May 2023, Sterlite Copper partnered with Serentica Renewables India to develop a captive hybrid renewable energy project to supply 16 MW of green power to its Silvassa Unit.To establish the hybrid renewable energy project, Sterlite Copper and Serentica Renewables India will incorporate a special purpose vehicle.