Other Deals
Serentica Renewables raises $345.1 M from ADB-led consortium
Gurugram-based Serentica Renewables has raised debt financing of USD 345.1 million from a consortium of lenders led by the Asian Development Bank (ADB). The transaction involves a direct exposure of up to USD 138 million from the ADB, with an additional USD 207.1 million mobilised from the Export-Import Bank of India, New Development Bank, and Sumitomo Mitsui Banking Corporation. The capital was raised through the company’s special purpose vehicle, Serentica Renewables India 1.Founded in 2022 by Pratik Agarwal, the company is an independent power producer focused on providing dispatchable renewable energy solutions to industrial customers.The company intends to use the funds to develop and refinance a large-scale solar-wind hybrid project located in Koppal, Karnataka.
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