PE Fund Investments
Serentica Renewables to raise $400-M from KKR
Global PE investment firm KKR will invest USD 400 million in Gurugram-headquartered Serentica Renewables, a Sterlite Group promoted clean energy solutions firm targeting energy-intensive industries. Standard Chartered Bank acted as the sole financial advisor to Serentica for this transaction. Serentica has entered three long-term PPAs (Power Purchase Agreements) and is in the process of developing about 1,500 MW of solar and wind power projects across Karnataka, Rajasthan, and Maharashtra. Serentica's medium term goal is to install 5,000 MW of carbon-free generation capacity coupled with different storage technologies, supply over 16 billion units of clean energy annually, and displace 20 million tonnes of CO2 emissions. Established in 2022, Serentica Renewables was 100% held by Twinstar Overseas Limited, which also owns controlling stakes in Sterlite Power Transmission Limited and Sterlite Technologies Ltd.
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