Serentica's 1,500 MWhr Green Power Solution
- Serentica Renewables has partnered with Greenko Group to utilise 1,500 MWhr capacity from upcoming projects in India, leveraged by investments from KKR. This landmark deal will enable Serentica to supply clean energy to hard-to-abate industries and reduce 37M tonnes of CO2 emissions.
Serentica Renewables has entered into a big energy storage contract with global energy storage developer Greenko Group. The contract involves leveraging Greenko’s energy storage capabilities to utilise a cumulative 1,500 MWhr capacity from its upcoming projects in Andhra Pradesh and Madhya Pradesh. This will enable Serentica to deliver round-the-clock, firm, and dispatchable renewable energy to its industrial customers. This landmark deal has been backed by investments of $650 million from KKR and is part of Serentica’s mission to transition hard-to-abate, energy-intensive industries to clean energy. Pumped storage hydropower (PSH) is the world’s most widely used energy storage technology and is also gaining traction in India, with Andhra Pradesh, Karnataka, Madhya Pradesh and Maharashtra seeing new projects come up. Serentica’s goal is to supply over 40 billion units of clean energy annually and displace 37 million tonnes of CO2 emissions.
How Will Serentica's Contract Impact PSH in India?
- The contract with Greenko Group will provide Serentica with 1,500 MWhr of energy storage capacity.
- This will help Serentica to provide round-the-clock, firm, and dispatchable renewable energy to its industrial customers.
- KKR invested $650 million to back the project.
- The project aims to replace 37 million tonnes of CO2 emissions.
- Pumped storage hydropower (PSH) is gaining traction in India, with Andhra Pradesh, Karnataka, Madhya Pradesh and Maharashtra seeing new projects come up.
- Serentica's contract with Greenko Group will help to support the growth of PSH in India and will create an opportunity for more sustainable energy solutions.
- The contract will help to reduce CO2 emissions and increase the efficiency of energy storage and distribution.
- This deal will also create more job opportunities in India, as it will require additional energy storage and distribution infrastructure to be built.
