New Delhi, Sep 10 (PTI) Green energy player Serentica Renewables plans to commission an additional 6.5 GW of renewable capacity by December 2027, a top company official has said.
With the commissioning
of these projects, Serentica’s operational capacity will rise to 7.5 GW from the current 1 GW, Chief Executive Officer Akshay Hiranandani said.
The 7.5 GW target by end-2027 will include 3 GW of projects floated by government-owned Renewable Energy Implementation Agencies (REIAs). Thus, government utilities will account for 40 per cent of Serentica's total commissioned portfolio.
Further, Serentica has signed three power purchase agreements (PPAs) and one LoA aggregating to 650 MW with major government utilities under the FDRE framework in the first five months of the current financial year.
Hiranandani said, "These wins at auctions of renewable energy projects by government-owned agencies demonstrate our ability to deliver complex, large-scale renewable projects aligned with India's national priorities at affordable costs..." Sharing an update on 650 MW, he said the company has inked agreements with NTPC for a 200 MW solar-wind-storage peak power project, and with SECI for 100 MW under the FDRE-IV load-following tender.
With NHPC, an agreement has been signed for a 150 MW hybrid peak power project, and LoA has been received from SJVN for a 200 MW time-block-based supply between April and August this year.
These projects will be located in states like Rajasthan, Maharashtra, Karnataka, and Andhra Pradesh.
Established in 2022, Serentica Renewables is a leading renewable Independent Power Producer with an interest in decarbonising hard-to-abate industries by providing firm dispatchable renewable energy solutions.
By 2030, the company targets 17 GW of operational capacity, combining renewable energy with large-scale storage solutions, including pumped storage projects (PSPs) and battery energy storage systems (BESS).
The company aims to supply over 50 billion units of clean power annually by 2030, offsetting nearly 47 million tonnes of Co2 emissions. PTI ABI DR
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