Green energy company Serentica Renewables has announced plans to commission an additional 6.5 GW of renewable capacity by December 2027, according to Chief Executive Officer Akshay Hiranandani. With the commissioning of these projects, the company's operational capacity will rise to 7.5 GW from the current 1 GW.

Government Partnership Strategy

The 7.5 GW target by end-2027 will include 3 GW of projects floated by government-owned Renewable Energy Implementation Agencies (REIAs). Government utilities will account for 40 percent of Serentica's total commissioned portfolio once these projects are completed. In the first five months of the current financial year, Serentica has signed three power purchase agreements (PPAs) and one Letter of Award (LoA) aggregating to 650 MW with major government utilities under the FDRE framework.

These agreements demonstrate the company's focus on partnering with government entities for renewable energy development.

Recent Project Agreements

The company has secured several significant agreements with government utilities. Serentica has inked an agreement with NTPC for a 200 MW solar-wind-storage peak power project. Additionally, the company signed with SECI for 100 MW under the FDRE-IV load-following tender. An agreement has been signed with NHPC for a 150 MW hybrid peak power project.

The company has also received a Letter of Award from SJVN for a 200 MW time-block-based supply between April and August this year. These projects will be located across multiple states, including Rajasthan, Maharashtra, Karnataka, and Andhra Pradesh, indicating a geographically diverse portfolio approach.

Company Background and Future Targets

Established in 2022, Serentica Renewables operates as a leading independent renewable power producer with a focus on decarbonizing hard-to-abate industries by providing firm, dispatchable renewable energy solutions. The company's business model centers on delivering complex, large-scale renewable projects aligned with India's national priorities at affordable costs.

By 2030, the company aims to achieve 17 GW of operational capacity, integrating renewable energy with large-scale storage solutions. These storage solutions include pumped storage projects (PSPs) and battery energy storage systems (BESS), representing an integrated approach to renewable energy delivery.

Environmental Impact Goals

Serentica aims to supply over 50 billion units of clean power annually by 2030. This energy production target is expected to offset nearly 47 million tonnes of CO2 emissions, highlighting the company's environmental impact objectives. Hiranandani emphasized that the wins at auctions of renewable energy projects by government-owned agencies demonstrate the company's ability to deliver complex, large-scale renewable projects aligned with India's national priorities at affordable costs.

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