Mumbai, November 07th, 2024: Serentica Renewables, (“Serentica” or the “Company”), a leading renewable energy company in India, has announced its plans to establish renewable energy projects with a combined capacity of 10 gigawatts (GW) in Andhra Pradesh. This initiative underscores the company’s commitment to supporting India’s clean energy goals and fostering sustainable growth in the region.
Andhra Pradesh, with its target of achieving 72 GW of renewable energy capacity by 2030, is opening avenues for industry leaders like Serentica to contribute to the state’s green vision. Through this 10 GW commitment, Serentica aims to establish a foundation for sustainable industrial growth in the region.
Commenting on this initiative, Mr. Pratik Agarwal, Chairman of Serentica Renewables, stated, ” Andhra Pradesh holds immense renewable energy potential, and our 10 GW commitment is a bold step toward unlocking it. This project will provide reliable, round-the-clock green power, supporting both regional growth and India’s vision for a sustainable, energy-secure future.” “
Mr. Akshay Hiranandani, CEO of Serentica Renewables, added, “. Our 10 GW development builds on our proven track record of executing complex renewable projects. We’re combining solar, wind, and storage technologies to develop Round-the-Clock projects to ensure green power on 24×7 basis”
Serentica Renewable’s 10 GW renewable energy projects is set to be a cornerstone in Andhra Pradesh’s renewable journey, driving regional development while contributing to India’s national goal of achieving 500 GW of renewable energy carbon reductions by 2030. Serentica targets developing 17 GW of Round the Clock renewable projects with 5,000 MWh of storage by 2030, of which 4 GW will be operational by 2025 to meet the round-the-clock green energy needs of its customers. The company has collaborated with Greenko Group for an energy storage capacity offtake contract, utilizing 1,500 MWhr from upcoming projects in Andhra Pradesh and Madhya Pradesh and will be supplemented by 3,500 MWh of battery storage. With a vision to deliver 50 billion units of renewable energy annually by 2030 and cut carbon emissions by 47 million tonnes, Serentica is dedicated to leading India’s renewable energy sector and fostering a sustainable industrial future.