kkr: KKR to invest USD 400 million in Serentica Renewable

Global investment firm KKR has signed a pact to invest $400 million in the Serentica Renewable decarbonization platform. Both companies have signed definitive agreements in this regard, under which KKR will invest $400 million in Serentica Renewable, it said in a statement Tuesday.

“This transaction is among the largest industrial decarbonization investments in India to date and advances the global decarbonization agenda that is at the heart of COP27 (United Nations Climate Change Conference 2022),” said Pratik Agarwal, Director of Serentica Renewables.

Serentica strives to provide 24/7 clean energy solutions for large, energy-intensive industrial customers. This includes delivering renewable energy solutions through long-term power purchase agreements and working closely with customers to shape their pathways to net-zero power.

Currently, the Company has completed three long-term PPAs and is in the process of developing approximately 1,500MW of solar and wind power projects in various states including Karnataka, Rajasthan and Maharashtra.

Serentica’s medium-term goal is to install 5,000 MW of carbon-free generation capacity in conjunction with various storage technologies and deliver over 16 billion units of clean energy annually and avoid 20 million tons of CO2 emissions.

Established in 2022, Serentica Renewables is wholly owned by Twinstar Overseas Ltd, which also has controlling interests in Sterlite Power Transmission &


“Our investment in Serentica reflects KKR’s confidence in the Indian renewable energy sector and our commitment to driving India’s energy transition,” said Hardik Shah, Partner at KKR.

Standard Chartered Bank acted as Serentica’s sole financial adviser on this transaction.

KKR is making its investment from its Asia Pacific infrastructure strategy. The Serentica transaction is KKR’s latest investment in India and in the renewable energy space.

Since 2011, KKR has deployed over $15 billion in equity globally to invest in renewable assets such as solar and wind, which has 23 GW of operational power generation capacity as of December 31, 2021, it said.

https://economictimes.indiatimes.com/markets/stocks/news/kkr-to-invest-usd-400-mn-in-serentica-renewable/articleshow/95375647.cms kkr: KKR to invest USD 400 million in Serentica Renewable

Russell Falcon

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