DCM Shriram Limited has signed an agreement with Serentica Renewables India Private Limited to develop a 58 MW hybrid renewable energy project in Bharuch, Gujarat. As part of the agreement, DCM Shriram Chemicals, a part of conglomerate DCM Shriram Limited, will invest up to Rs 1.05 billion in one or more phases to acquire a minimum of 26 per cent equity stake in Serentica Renewables.
The project is expected to be completed by June 2027. Furthermore, with the addition of this project, DCM Shriram Chemicals’ total renewable energy capacity will increase from 118.4 MW to 176.4 MW.
Earlier, in July 2026, Serentica Renewables secured a loan agreement for debt financing of up to $345.1 million to develop and refinance a solar-wind hybrid project in Koppal, Karnataka.
