Serentica Renewables has inked agreements to acquire the Indian solar business of Statkraft. The Indian solar business of Statkraft consists of a 445 MWp operational solar plant at Bikaner and 1 GWp of development assets across Rajasthan. Furthermore, with this acquisition, Serentica’s operating portfolio will increase to 1.5 GW.
Standard Chartered Bank served as the buy-side transaction advisor, and Khaitan & Co. served as the legal advisor. Additionally, Ernst & Young LLP acted as the sell-side M&A banker to Statkraft, and Cyril Amarchand Mangaldas served as the legal advisors.
Earlier this month, Serentica Renewables invited expressions of interest from infrastructure and construction partners to support wind project execution across sites in Andhra Pradesh, Karnataka, and Maharashtra.
Furthermore, in the same month, Serentica Renewables joined forces with the Shanghai Gotion Digital Energy Tech Company to set up a 50 MW/ 200.6 MWh battery energy storage system facility in Bikaner, Rajasthan.
