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Serentica Renewables will install approximately 1.5 GW of wind-solar hybrid power projects across Rajasthan, Karnataka, and Maharashtra in India, marking the launch of the company’s renewable energy platform in the country.
Serentica Renewables is 100% held by Twinstar Overseas, which also owns controlling stakes in Sterlite Power Transmission Limited & Sterlite Technologies.
The company said its clean energy platform would provide round-the-clock (RTC) carbon-free power to large-scale customers in India. Connectivity approvals for the hybrid projects have already been acquired.
A large part of the 1.5 GW capacity will be used to deliver around 600 MW of RTC clean energy to various entities of the Vedanta Group. The capacity will be commissioned in two years.
Serentica said it would also participate in government tenders subject to the projects having synergies with its focus of providing direct green energy solutions to commercial and industrial customers.
The company said it also aims to install around 5 GW of carbon-free generation capacity coupled with different storage technologies and supply 15 billion units of clean energy annually to displace 20 million tonnes of CO2 emissions.
Serentica’s spokesperson Pratik Agarwal said, “Serentica is committed to reversing climate change by decarbonizing energy-intensive industries such as Steel, Cement, Aluminium, and Zinc. Industries account for over 30% of total carbon emissions. In India, most of the electricity demand of industrial consumers is met through thermal sources. We want to take advantage of the best-in-class policy framework rolled out by the Government of India to promote green energy in the C&I (Commercial & Industrial) sector.”
Mercom has been organizing a series of clean energy events focused on the C&I sector. It recently hosted the C&I Clean Energy Meet in Pune, where stakeholders from the solar sector and C&I entities deliberated upon the benefits, real-world installations, and processes of rooftop solar and open access. Similar events will follow in Coimbatore, Chennai, Ahmedabad, and Noida.
Recently, Hindustan Zinc said it has acquired a 26% stake in Serentica Renewables India 4 for ₹3.5 billion (~$43 million) and executed a long-term renewable power delivery agreement for up to a capacity of 200 MW.