New Delhi: Green energy player Serentica Renewables plans to commission an additional 6.5 GW of renewable capacity by December 2027, which will take its operational capacity to 7.5 GW from the current 1 GW, Chief Executive Officer Akshay Hiranandani said.
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The expansion aligns with the company’s ambition to scale aggressively within a five-year horizon, making it one of the leading renewable energy producers in India.
Out of the 7.5 GW target, 3 GW will come from projects floated by the government's Renewable Energy Implementation Agencies (REIAs). This means government utilities will account for 40 percent of Serentica’s total commissioned portfolio by end-2027.
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 650 MW with major government utilities under the FDRE framework.
“These wins at auctions of renewable energy projects by government-owned agencies demonstrate our ability to deliver complex, large-scale renewable projects aligned with India’s national priorities at affordable costs,” Hiranandani said.
Providing details of the 650 MW secured this year, Hiranandani said the company has inked agreements with NTPC for a 200 MW solar-wind-storage peak power project, and with SECI for 100 MW under the FDRE-IV load-following tender.
With NHPC, Serentica has signed an agreement for a 150 MW hybrid peak power project, while an LoA has been received from SJVN for a 200 MW time-block-based supply between April and August this year.
These projects will be located in states including Rajasthan, Maharashtra, Karnataka, and Andhra Pradesh.
Established in 2022, Serentica Renewables positions itself as a renewable Independent Power Producer focused on decarbonising hard-to-abate industries through firm dispatchable renewable energy.
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By 2030, the company aims to reach 17 GW of operational capacity by combining renewable energy with large-scale storage solutions such as pumped storage projects (PSPs) and battery energy storage systems (BESS). Serentica expects to supply over 50 billion units of clean power annually by then, offsetting nearly 47 million tonnes of CO₂ emissions.
