Debt financing
Serentica Renewables raises $100-M via ECBs from Rabobank, Societe Generale
Business Line Serentica Renewables
Gurugram-headquartered Serentica Renewables has raised USD 100 million from global financial institutions Rabobank and Societe Generale through external commercial borrowing (ECB).The funding would support the company's development of a 300 megawatt (MW) solar power project in Rajasthan, which has been designed to supply green energy to Bharat Aluminium Company (BALCO).Serentica Renewables provides energy solutions enabling large scale heavy energy intensive industries for clean energy transition. The company focuses on providing industrial decarbonization solutions through a combination of greenfield solar, wind and energy storage.
Between Nov-22 and May-23, Serentica had attracted about USD 650-M from KKR.For FY24, Serentica Renewable had reported about INR 32.20Cr in Total Income and about INR 24.23 Cr in Net Loss.
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