- TSOL has launched a new renewable energy platform called Serentica Renewables in India
- It will install 1.5 GW worth of solar and wind energy capacity in Karnataka, Rajasthan and Maharashtra over 24 months
- 600 MW of this capacity will be procured by various entities of mining company Vedanta Group on RTC basis
The flourishing renewables market of India has yet another renewable energy platform in the form of Serentica Renewables that targets to install 1.5 GW worth of solar and wind power plant energy capacity in the country. A majority will be supplied to Vedanta Group used for round-the-clock (RTC) clean energy.
Serentica will locate this capacity across multiples sites in the states of Karnataka, Rajasthan and Maharashtra where it claims to have acquired connectivity approvals. Of the 1.5 GW, 600 MW RTC capacity will be procured by various entities of mining giant Vedanta.
The management said it will specialize in providing end-to-end green solutions to large consumers of energy in India, including connectivity to the appropriate transmission network. All of the 1.5 GW capacity is targeted to be commissioned within 24 months.
Owned by Twinstar Overseas Limited (TSOL) that also owns controlling stakes in Sterlite Power Transmission Limited & Sterlite Technologies Ltd, Serentica sees itself installing 5 GW carbon-free generation capacity with different storage technologies ‘in the medium term’. The aim is to supply more than 15 billion units of clean energy annually.
“Serentica is committed to reversing climate change by decarbonising energy-intensive industries such as steel, cement, aluminium and zinc. Industries account for over 30% of total carbon emissions. In India, most of the electricity demand of industrial consumers is met through thermal sources,” stated the company. “We want to take advantage of the best-in-class policy framework rolled out by the Government of India to promote green energy in the C&I (commercial & industrial) sector.”
Serentica is led by a team with extensive experience in the Indian solar energy space with renowned names. Vignesh Nandakumar is the company’s CEO who previously was the vice president of Terraform Global and responsible for APAC and Africa regions. The company’s COO is C Chaudhary who was the COO of Amp Energy India earlier. Nishit Mehta of Siemens inverter business is Serentica’s chief for energy storage and renewables balancing. Head Business Development position at the company is held by Alok Nigam who has worked with SunEdison, UPC Renewables and Lanco Group.