Serentica Renewables announces energy storage contract with Greenko Group

Serentica Renewables announced that it has signed a standalone energy storage capacity offtake contract with the Greenko Group. As part of this contract, Serentica will leverage Greenko’s energy storage capabilities to utilise a cumulative 1,500 MWhr capacity from its upcoming energy storage projects in Andhra Pradesh and Madhya Pradesh.

This landmark deal will augment Serentica’s efforts to deliver round-the-clock, firm, and dispatchable renewable energy to its industrial customers with an annual assurance of less than 95 per cent and a 15-minute time-block assurance of less than 85 per cent.

Commenting on the milestone, Pratik Agarwal, Director, Serentica Renewables, said, “Long duration energy storage is critical to decarbonising the country’s energy consumption and reducing greenhouse gas emissions. As we gear up to deliver round-the-clock renewable energy for our industrial customers, this unique energy storage capacity offtake contract with Greenko puts us on an accelerated trajectory in our mission to transition hard-to-abate, energy-intensive industries to clean energy and help reverse climate change.”

Recently, Serentica Renewables announced that it has signed over 1.25 GW of new Power Delivery Agreements 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 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.