A newly formed decarbonisation platform under Vedanta Group, Serentica Renewables seeks to enable energy transition by providing renewable energy solutions for energy-intensive industries. KKR will infuse USD 400 million.

November 8, 2022

KKR — Serentica Renewables’ vision is to enable the energy transition.

Kohlberg Kravis Roberts & Co. (KKR) will join hands with Serentica Renewables and invest USD 400 million in the platform, according to a recent media report. A newly formed decarbonisation platform under Vedanta Group, Serentica Renewables seeks to enable energy transition by providing clean energy solutions for energy-intensive industries.

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The development will aid large-scale, energy-intensive industrial clients such as manufacturing, automotive and steel. This segment in India consumes around 70 GW of coal and gas-fired energy.

Along with KKR, the Sterlite Group of companies would also invest USD 100 million. Serentica Renewables is 100 percent held by Twinstar Overseas Ltd. (TSOL), which also has controlling stakes in Sterlite Power Transmission Ltd. and Sterlite Technologies Ltd. Standard Chartered Bank is the advisor for the transaction.

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Currently, Serentica Renewables has entered into three PPAs. The company is developing renewable energy projects in Karnataka, Rajasthan and Maharashtra.