KKR to speculate extra USD 250 mn in Serentica Renewables
Serentica Renewables mentioned it has secured a further funding of USD 250 million from world funding agency KKR.- This newest funding builds on the USD 400 million funding from KKR in November 2022.
Serentica has not too long ago signed a brand new set ofEnergy Supply Agreements (PDAs) to ship round the clock inexperienced vitality to a number of the mainindustrial prospects in India.
Renewable vitality options supplier Serentica Renewables on Monday mentioned it has secured a further funding of USD 250 million from world funding agency KKR. Serentica Renewables has signed definitive agreements beneath which main world funding agency KKR will make investments a further USD 250 million within the firm, an announcement mentioned.
This newest funding builds on the USD 400 million funding from KKR in November 2022.
With this, the corporate is gearing as much as set up 4000MW of renewable vitality capability that can assist clear vitality supply to large-scale industrial prospects.
Serentica has not too long ago signed a brand new set of Energy Supply Agreements (PDAs) to ship round the clock inexperienced vitality to a number of the main industrial prospects in India.
Presently, it’s within the technique of growing photo voltaic and wind energy tasks throughout Karnataka, Rajasthan, and Maharashtra.
As soon as commissioned, these tasks will
Pratik Agarwal, Director, Serentica Renewables, mentioned within the assertion, “We’re excited to deepen our collaboration with a like-minded strategic accomplice like KKR. This funding will allow us to additional speed up large-scale decarbonization of the power-guzzling business and industrial phase.”
Serentica’s imaginative and prescient is to produce over 40 billion items of unpolluted vitality yearly within the medium time period and displace 50 million tonnes of CO2 emissions.
Hardik Shah, Accomplice at KKR, mentioned within the assertion, “We’re happy to increase our relationship with Serentica to help their progress and propel their mission to allow India’s vitality transition.”
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