Big Win For KKR’s India Joint Venture

• India's Serentica Renewables has landed itself new RTC PDA's for 1.25 GW capacity
• It plans to deploy 4 GW of wind and solar power capacity, supported by energy storage to honor the agreements
• Projects will be built in the states of Karnataka, Maharashtra, Andhra Pradesh and Rajasthan

India based clean energy company Serentica Renewables has announced plans to develop 4 GW of wind, solar capacity, along with balancing solutions like energy storage after it signed over 1.25 GW of new round-the-clock (RTC) power delivery agreements (PDA) with multiple industrial customers in the country. It did not identify the clients for these deals.

The 1.25 GW PDA capacity is in addition to the ones signed for 580 MW in March 2023, added Serentica that's a a joint venture (JV) between KKR and Twinstar Overseas Limited (TSOL) (see KKR Invests In Serentica Renewables).

Serentica specializes in providing RTC clean energy solutions to its commercial & industrial (C&I) customers to help them decarbonize.

Its 4 GW wind and solar energy assets will be spread across Karnataka, Maharashtra, Andhra Pradesh and Rajasthan. The management claims to have secured connectivity to the inter-state transmission system (ISTS). Once online, this capacity is expected to supply more than 9 billion units (BU) clean energy annually.

The company says it targets to supply more than 40 BU of clean energy annually in the medium term with a combination of wind, solar energy storage and balancing solutions.