KKR To Invest In Serentica Renewables Which Will Fund Their Clean Energy Ambitions

Serentica Renewable Energies announced that it has signed a definitive contract for a $250 million investment from KKR, a leading global investment firm. This new investment builds on KKR's $400 million investment in November 2022, bringing the total KKR investment to $650 million.

The funds will be used to build 4,000MW of renewable energy capacity, which will help deliver clean energy to large-scale industrial customers. Serentica has recently signed Power Delivery Agreements (PDAs) with several leading industrial customers in India to provide round-the-clock green energy.

The company is currently working on solar and wind power projects in Karnataka, Rajasthan, and Maharashtra.

These projects, once commissioned, will supply 9 billion units of green energy every year and will help decarbonize a significant portion of electricity consumption of the large-scale industrial customers.

Serentica's long-term goal is to supply more than 40 billion units of clean energy per year and displace 50 million tonnes of CO2 emissions.

Pratik Agarwal, Director of Serentica Renewables, commented on the investment, saying, "This investment will enable us to further accelerate large-scale decarbonization of the power-guzzling commercial and industrial segment." This investment reinforces our unwavering commitment to reversing climate change through the delivery of clean energy, giving us greater confidence in our ability to achieve this vision."

KKR Partner Hardik Shah stated, "We are pleased to extend our relationship with Serentica to support their growth and propel their mission to enable India's energy transition."