Serentica Renewables has inked a long-term power purchase agreement (PPA) with MRF Limited to provide clean energy under the captive power framework. The clean energy will be supplied from a new wind-solar hybrid renewable project, which has an installed capacity of approximately 170 MW. The hybrid project is currently being developed by Serentica Renewables.
The power will be supplied to MRF’s manufacturing facilities across India through the inter-state transmission system network. Additionally, a special-purpose vehicle (SPV) has been created to supply renewable energy to MRF. In this SPV, MRF holds a minority captive stake, while the remaining share is owned by Serentica.
Earlier in September 2025, Serentica Renewables inked PPA with the Solar Energy Corporation of India for a 100 MW RTC project. Furthermore, in the same month, Serentica Renewables inked agreements to acquire the Indian solar business of Statkraft, which consists of a 445 MWp operational solar plant at Bikaner and 1 GWp of development assets across Rajasthan.
