Serentica Renewables Commits to Clean Energy Revolution with 10 GW Project in Andhra Pradesh
Mumbai, November 07th, 2024: Serentica Renewables, ("Serentica" or the "Company"), a leading renewable energy company in India, has announced its plans to establish renewable energy projects with a combined capacity of 10 gigawatts (GW) in Andhra Pradesh. This initiative underscores the company's commitment to supporting India's clean energy goals and fostering sustainable growth in the region.
Andhra Pradesh, with its target of achieving 72 GW of renewable energy capacity by 2030, is opening avenues for industry leaders like Serentica to contribute to the state’s green vision. Through this 10 GW commitment, Serentica aims to establish a foundation for sustainable industrial growth in the region.
Commenting on this initiative, Mr. Pratik Agarwal, Chairman of Serentica Renewables, stated, " Andhra Pradesh holds immense renewable energy potential, and our 10 GW commitment is a bold step toward unlocking it. This project will provide reliable, round-the-clock green power, supporting both regional growth and India’s vision for a sustainable, energy-secure future.” "
Mr. Akshay Hiranandani, CEO of Serentica Renewables, added, ". Our 10 GW development builds on our proven track record of executing complex renewable projects. We're combining solar, wind, and storage technologies to develop Round-the-Clock projects to ensure green power on 24x7 basis"
Serentica Renewable's 10 GW renewable energy projects is set to be a cornerstone in Andhra Pradesh's renewable journey, driving regional development while contributing to India's national goal of achieving 500 GW of renewable energy carbon reductions by 2030. Serentica targets developing 17 GW of Round the Clock renewable projects with 5,000 MWh of storage by 2030, of which 4 GW will be operational by 2025 to meet the round-the-clock green energy needs of its customers. The company has collaborated with Greenko Group for an energy storage capacity offtake contract, utilizing 1,500 MWhr from upcoming projects in Andhra Pradesh and Madhya Pradesh and will be supplemented by 3,500 MWh of battery storage. With a vision to deliver 50 billion units of renewable energy annually by 2030 and cut carbon emissions by 47 million tonnes, Serentica is dedicated to leading India's renewable energy sector and fostering a sustainable industrial future.
About Serentica Renewables
Established in 2022, Serentica Renewables (India) is a decarbonization platform that looks to provide round-the-clock clean energy solutions enabling the transition of large-scale, energy-intensive industries to clean energy. The company is focused on industrial decarbonization, by making renewables the primary source of energy for the commercial and industrial segment
which consumes more than 50% of the electricity generated in India. Serentica aims to provide assured renewable energy through a combination of solar, wind, energy storage and balancing solutions. Serentica’s medium term goal is to supply over 50 billion units of clean energy annually and displace 47 million tons of CO2 emissions. The company has already secured investments worth $650 million from leading global investor KKR.
