New Delhi: India-based renewable energy firm Serentica Renewables, supported by global investment firm KKR & Co., has announced an ambitious plan to raise between $6 billion and $8 billion over the next five years to fuel a rapid expansion of its clean energy portfolio. The move aims to more than double the company’s renewable energy capacity, targeting a total of 17 gigawatts (GW) by 2029/30, positioning Serentica as a major player in India’s green transition. Currently, the company operates around 2 GW of solar and wind projects, with an additional 2 GW expected to come online within the next ten months.
The funds will support both greenfield projects and strategic acquisitions as Serentica seeks to capture available renewable assets on the market. The company’s first $3 billion of funding is reportedly secured, with another $2 billion partly financed, while negotiations continue for the remaining capital. Serentica plans to invest a total of $10–11 billion through 2030, reflecting its aggressive strategy to expand capacity and integrate advanced technologies, including energy storage systems, to provide round-the-clock clean power.
In recent developments, Serentica signed a 170 MW hybrid solar-wind agreement to supply renewable energy to a major industrial client under a captive power model, highlighting the company’s focus on meeting the needs of energy-intensive sectors. The firm has also been actively acquiring renewable assets from international players exiting the Indian market, accelerating its growth trajectory. By 2027, Serentica expects to commission an additional 6.5 GW, bringing its operational capacity to 7.5 GW, while expanding storage solutions to stabilize output and ensure reliable supply for industrial customers.
This expansion aligns with India’s broader climate and energy goals, offering significant contributions toward decarbonization and renewable integration. Serentica’s strategy underscores the importance of combining generation, storage, and industrial offtake solutions to meet rising energy demand sustainably. By securing large-scale funding and scaling operations, the company aims to play a transformative role in India’s industrial energy sector, providing cleaner, reliable, and cost-effective power to drive economic and environmental progress.
Despite the ambitious plan, Serentica faces challenges including the integration of acquired assets, timely project completion, and regulatory approvals. Additionally, the success of the strategy relies on adequate transmission infrastructure to deliver power efficiently across regions, emphasizing the need for coordinated growth in India’s renewable energy ecosystem.
Serentica Renewables’ bold fundraising initiative marks a significant milestone in India’s renewable energy journey, reflecting growing investor confidence in the country’s clean energy market and the critical role private firms can play in accelerating the green transition.