Latest news with #AkshayHiranandani
Time of India
5 days ago
- Business
- Time of India
Serentica Renewables secures over $100 million debt funding from Rabobank, Societe Generale
Serentica Renewables on Thursday said it has secured USD 100 million in debt financing from global financial institutions Rabobank and Societe Generale to support the development of a 300 MW solar power project in Rajasthan. Serentica Renewables, a leading Commercial & Industrial (C&I) focused renewable energy company in India, has announced the financial close of its second External Commercial Borrowing (ECB) financing, according to a company statement. This strategic project has been designed to supply green energy to Bharat Aluminium Company Limited (BALCO), one of India's leading aluminum producers and a subsidiary of the Vedanta Group, marking another significant step in decarbonising India's industrial sector, it stated. Akshay Hiranandani, CEO of Serentica Renewables, said, "It's a crucial step in our mission to provide reliable, clean energy solutions that empower industrial giants like BALCO to decarbonise, driving a greener and more sustainable future for the nation." "We are proud to partner again with Serentica and bring our structuring expertise to a project that will deliver strong, long-term, sustainable impact," said Amardeep Parmar, Head of Project Finance Asia, Rabobank. Live Events The company has achieved a significant milestone by reaching 1,000 MW of renewable energy capacity, with ongoing projects across multiple states, leveraging a mix of solar, wind, energy storage, and advanced balancing solutions. Backed by a USD 650 million investment from KKR, Serentica aims to supply over 50 billion units of clean energy annually, enabling the displacement of 47 million tons of CO₂ emissions.
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Business Standard
16-05-2025
- Business
- Business Standard
Serentica plans ₹1 trn investment to boost capacity to 17 GW by 2030: CEO
Akshay Hiranandani talks about about Serentica's future roadmap, and the current market scenario Shine Jacob Chennai Listen to This Article Vedanta and KKR-backed Serentica Renewables is planning an ambitious capacity expansion by 2030. Chief executive officer (CEO) Akshay Hiranandani talks to Shine Jacob in Chennai about Serentica's future roadmap, and the current market scenario. Edited excerpts: We understand that you are working on projects of around 4 gigawatts (GW) in the renewables sector. What is the status? Currently, we're building about 4,000 megawatts (MW) of wind and solar projects across Rajasthan, Maharashtra, and Karnataka. We have a solid pipeline, including 3–4 GW more from both government contracts and new power purchase agreements (PPAs). As these PPAs move into execution, we
Time of India
05-05-2025
- Business
- Time of India
Serentica Renewables to supply 75 MW hybrid renewable energy to INOXAP
New Delhi: Serentica Renewables on Monday said it has signed a pact with INOX Air Products to supply 75 MW of hybrid renewable energy . The 75 MW of hybrid energy will significantly increase INOX Air Products' renewable energy portfolio , spanning four of its key manufacturing sites in four different states, a statement said. According to the statement, Serentica Renewables, a leading renewable energy provider in India, has signed a Power Supply and Consumption Agreement (PSCA) with INOX Air Products (INOXAP), India's largest manufacturer of industrial, electronic and medical gases. Under this agreement, Serentica will supply 75 MW of hybrid renewable energy to INOXAP -- its marquee customer -- through Inter-State Transmission System (ISTS) project, enabling competitive tariffs and flexible power usage across multiple locations in different states, it stated. This agreement marks a significant milestone in Serentica's growth journey as it expands its clean energy solutions beyond state borders, enabling large-scale, multi-location industrial customers to transition to sustainable operations . Serentica Renewables CEO Akshay Hiranandani said in the statement, "The scale and inter-state nature of this project showcases our evolving capabilities to deliver firm, reliable, and geographically flexible clean energy to large enterprises. This project represents a major step forward in enabling large industrial customers like INOX to seamlessly transition to sustainable operations across the country." S K Jena, Head, Operations (LASU & Onsite plants), INOXAP, said in the statement, "This agreement with Serentica is a major leap in our decarbonisation journey, as this would enable us to significantly increase the share of renewable energy in our energy consumption mix and get closer to our net-zero target." Serentica's hybrid renewable solutions integrate wind, solar, and storage assets to ensure 24X7, reliable clean power delivery. Through such partnerships, Serentica continues to accelerate the decarbonization of hard-to-abate sectors and contribute to India's broader net-zero ambitions.
