Serentica Secures $100M for Rajasthan Solar Expansion

• Serentica Renewables secures $100M for Rajasthan solar project, powering BALCO and expanding India's green energy footprint with 10 GW by 2024.

Serentica Renewables has secured over USD 100 million in debt financing from Dutch Rabobank and France’s Societe Generale for a 300-MW solar project in Rajasthan, India. This marks the company's second external commercial borrowing. The photovoltaic park will supply electricity to Bharat Aluminium Company Limited (BALCO), a subsidiary of Vedanta Group.

Launched in 2022 and backed by US private equity firm KKR & Co, Serentica has 1 GW of renewable assets in India. The company plans to invest INR 500 billion by late 2024 to deploy 10 GW of new renewable power capacities across Rajasthan.

How is Serentica Renewables expanding its solar capacity in Rajasthan, India?

• Serentica Renewables is focusing on expanding its solar capacity in Rajasthan as part of its broader strategy to increase renewable energy production in India.
  
• The company is leveraging its recent debt financing to develop a 300-MW solar project in the region.
  
• This project is part of Serentica's larger goal to deploy 10 GW of new renewable power capacities across Rajasthan by late 2024.
  
• The solar project will contribute to the company's existing portfolio of 1 GW of renewable assets in India.
  
• Serentica is backed by US private equity firm KKR & Co, which supports its expansion plans.
  
• The electricity generated from the new solar project will be supplied to Bharat Aluminium Company Limited (BALCO), enhancing the renewable energy supply for industrial use.
  
• The expansion aligns with India's national goals to increase the share of renewable energy in its energy mix.
• Serentica's investment in Rajasthan is part of a broader commitment to invest INR 500 billion in renewable energy projects.