India, 30 May 2023: Serentica Renewables, (“Serentica” or the “Company”), a decarbonization platform that seeks to accelerate the energy transition for energy-intensive industries, has been recognised as the “Renewable Energy Platform of the Year” in the Best Deals (South Asia) category at The Asset Triple A Sustainable Infrastructure Awards 2023.
Serentica won the “Renewable Energy Platform of the Year” award for emerging as one of the most promising renewable energy platforms, focused on decarbonisation of the Commercial & Industrial segment in India. With investment commitments worth $650 million from leading global investment firm – KKR, the company is geared up to install 4000 MW of renewable energy capacity that will aid clean energy delivery to large-scale industrial customers. In the medium term, Serentica’s vision is to supply over 40 billion units of clean energy annually and displace 37 million tonnes of CO2 emissions.
Commenting on the marquee award win, Pratik Agarwal, Director, Serentica Renewables, said, “This award is a recognition of our commitment to decarbonize the industrial sector in India. We believe that renewable energy is the key to a sustainable future, and Serentica is proud to be playing a vital role in making it a reality.”
Serentica has recently signed a new set of Power Delivery Agreements (PDAs) to deliver round-the-clock green energy to some of the leading industrial customers in India. Currently, it is in the process of developing solar and wind power projects across Karnataka, Rajasthan, and Maharashtra. Once commissioned, these projects will supply 9 billion units of green energy every year, using the inter-state transmission network, thereby decarbonising a large portion of the electricity consumption of the large-scale industrial customers.
The Asset’s annual Triple A recognition represents the industry’s most prestigious awards for banking, finance, treasury and the capital markets. It has over two decades of experience in bestowing pre-eminent recognition on the organisations that have excelled in their respective industry.
