Serentica Renewables is set to scale up its renewable energy capacity significantly, aiming to commission an additional 6.5 GW by December 2027. This will raise its total operational capacity to 7.5 GW, up from the current 1 GW, according to CEO Akshay Hiranandani.
Vigorous Government Auction attendance
Out of the intended 7.5 GW, 3 GW will be under projects that are granted by Renewable Energy Implementation Agencies (REIAs), implying that government-controlled projects will constitute approximately 40 percent of the total commissioned power of the company.
The Serentica managed to conclude three Power Purchase Agreements (PPAs) and one Letter of Award (LoA) in the first five months of FY2025 in the Firm and Dispatchable Renewable Energy (FDRE) framework, reaching 650 MW. These agreements include:
- 200 MW solar-wind-storage peak power project with NTPC
- 100 MW under the FDRE-IV load-following tender with SECI
- 150 MW hybrid peak power project with NHPC
- 200 MW LoA for time-block-based supply from SJVN, valid from April to August this year
The ventures will be generated in Rajasthan, Maharashtra, Karnataka and Andhra Pradesh.
Clean Energy Long-Term Vision
Serentica was founded in 2022 and concentrates on decarbonization of hard-to-abate industries through providing firm and reliable renewable energy. It plans to grow its operational portfolio by 2030 to 17 GW with a combination of renewables and new storage options such as pumped storage projects (PSPs) and battery energy storage systems (BESS).
Another goal of the company is to provide more than 50 billion units of green power a year by the decade end to cover about 47 million tonnes of CO₂ emissions.
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