Serentica Renewables Pioneers Green Energy with $100m Solar Project in Rajasthan
Serentica Renewables has secured $100 million in debt financing for a 300 MW solar project in Rajasthan. Partnering with BALCO, the project seeks to decarbonize India's industrial sector. Serentica, backed by a $650 million KKR investment, has reached 1,000 MW capacity, aiming to supply 50 billion units of clean energy annually.
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- India
This week, Serentica Renewables announced a significant advancement in India's renewable energy sector. The company secured $100 million in debt financing from Rabobank and Société Générale to develop a 300 MW solar power project in Rajasthan. This project is designed to supply green energy to Bharat Aluminium Company Limited (BALCO), contributing to India's industrial decarbonization efforts.
Akshay Hiranandani, the CEO of Serentica Renewables, emphasized the importance of this project in their mission to deliver clean energy solutions, aiding industrial giants like BALCO in reducing their carbon footprint. Amardeep Parmar, Head of Project Finance Asia at Rabobank, expressed pride in partnering with Serentica to achieve long-term sustainable impact.
With a $650 million investment from KKR, Serentica continues to expand its renewable energy capacity, which now stands at 1,000 MW. The company is on track to supply over 50 billion units of clean energy annually, eliminating an estimated 47 million tons of CO₂ emissions, marking a significant stride towards a sustainable future.
(With inputs from agencies.)
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