Serentica Renewables has announced that it has secured an additional investment of $250 million from KKR, a leading global investment firm. This latest investment follows KKR’s $400 million investment in the decarbonization platform back in November 2022. The funding will support Serentica’s efforts to achieve 4000MW of installed renewable energy capacity, enabling the delivery of clean energy to large-scale industrial customers. Serentica has recently signed a new set of Power Delivery Agreements to provide green energy to some of India’s leading industrial customers, and is developing solar and wind power projects across Karnataka, Rajasthan, and Maharashtra. The company plans to supply over 16 billion units of clean energy annually and displace 20 million tonnes of CO2 emissions in the medium term.
Pratik Agarwal, Director at Serentica Renewables, expressed excitement about deepening their collaboration with KKR, stating that the investment would enable the company to further accelerate large-scale decarbonization of the power-guzzling commercial and industrial segment. Hardik Shah, Partner at KKR, acknowledged the growing importance of clean energy solutions in meeting India’s energy demands, especially in hard-to-abate industries, and expressed the firm’s commitment to supporting Serentica’s mission to enable India’s energy transition. This investment further reinforces Serentica’s commitment to reversing climate change and gives them greater confidence in their capabilities to achieve their vision.