Serentica Renewables, a top renewable energy firm in India, has entered into a historic Power Purchase Agreement (PPA) with Solar Energy Corporation of India (SECI) for 100 MW of round-the-clock power on renewable energy. It is the first of its kind in India, a load-following PPA that was planned jointly with the SECI and state DISCOMs so that it follows the seasonal load profile of the offtakers.
Serentica will be bound to meet 80 percent of the stipulated hourly output per month under the agreement with load commitments of between 17 MW at the low-demand time periods and 100 MW at the peak time periods. To achieve this special need, the company will install a diversified technology of wind, solar, and Battery Energy Storage Systems (BESS). The estimated output of the project is the production of more than 400 GWh of clean energy per year.
Commenting on the milestone, Akshay Hiranandani, CEO, Serentica Renewables, said, “This agreement sets a new benchmark in India’s renewable energy journey. By signing the country’s first load-following PPA with SECI, we are demonstrating how innovation in renewable contracting can accelerate decarbonization while also strengthening the stability and resilience of the power grid.”
This bespoke contract design will be a big industry in the transition of energy in India with high-priced electricity that will be available at the time when consumers require it the most. It emphasizes the increased significance of advanced renewable options that have the capacity to respond to demand patterns that are complex.
