More
    HomeUncategorizedSerentica Renewables Gears Up for Growth: ₹30,000 Crore Investment Planned by FY27

    Serentica Renewables Gears Up for Growth: ₹30,000 Crore Investment Planned by FY27

    Published on

    Top stories

    L&T loses legal battle; MEIL bags Sharavathi pumped storage project in Karnataka

    In a major setback to Larsen & Toubro's (L&T), the Hon'ble Supreme Court dismissed...

    Left vs. Right in Bihar’s Red Fort  

    BEGUSARAI (BIHAR): A strong presence of the Left had earned Begusarai the epithet “Leningrad...

    Hyderabad, Telangana – April 30, 2024: Serentica Renewables, a subsidiary of Vedanta Group, has announced ambitious plans to invest up to ₹30,000 crore (US$4.2 billion) in renewable energy projects by FY27 (fiscal year ending March 2027). This aggressive investment strategy underscores the company’s commitment to becoming a significant player in India’s clean energy sector.

    Targeting 10 GW Capacity by 2027

    Serentica Renewables aims to achieve a significant capacity increase, targeting 10 GW of renewable energy generation by 2027. This ambitious target represents a crucial step towards their long-term goal of reaching 17 GW by 2030.

    Focus on the Commercial and Industrial Sector

    The company is strategically prioritizing the commercial and industrial (C&I) sector. To cater to the diverse energy needs of C&I customers, Serentica Renewables is developing customized solutions, including tailored contracts and participation in government tenders for round-the-clock (RTC) and firm & dispatchable renewable energy (FDRE) projects.

    Investment Plans and Funding Strategies

    In FY25 (fiscal year ending March 2025), Serentica Renewables has earmarked around ₹15,000 crore (US$2.1 billion) for wind and solar RTC hybrid projects. Demonstrating its financial commitment, the company has already secured a ₹3,500 crore (US$490 million) foreign currency loan for its RTC project earlier this year.

    To fuel future growth, Serentica Renewables plans to raise an additional USD$300 million through a combination of existing shareholders and outside investors. This multi-pronged approach ensures they have the capital to execute their ambitious expansion plans.

     

    Serentica Renewables’ significant investment plans position them as a critical driver of India’s clean energy transition. Their focus on the C & I sector and innovative solutions could revolutionize how businesses access renewable energy.

    Latest articles

    PUSHPA PUSHPA (Telugu Lyrical) Pushpa 2 The Rule | Allu Arjun | Sukumar | Rashmika | Fahadh F

    PUSHPA PUSHPA (Telugu Lyrical) Pushpa 2 The Rule | Allu Arjun | Sukumar |...

    Absence of Pre-Monsoon Storms Blamed for Rising Temperatures in India

    Ahmedabad: India has experienced a scorching April with no pre-monsoon storms for the fifth...

    Bringing the Ocean to the Land: A Revolutionary Step in MEIL’s Machilipatnam Port

    In a historic endeavour set to redefine India's maritime landscape, the Andhra Pradesh Maritime...

    Vistara Pilot Training Lapses Lead to Official Suspension, Daily Flight Reports Demanded by DGCA

    India's aviation regulator, DGCA, has suspended Vistara's training chief, Vikram Mohan Dayal, over lapses...

    More like this

    PUSHPA PUSHPA (Telugu Lyrical) Pushpa 2 The Rule | Allu Arjun | Sukumar | Rashmika | Fahadh F

    PUSHPA PUSHPA (Telugu Lyrical) Pushpa 2 The Rule | Allu Arjun | Sukumar |...

    Absence of Pre-Monsoon Storms Blamed for Rising Temperatures in India

    Ahmedabad: India has experienced a scorching April with no pre-monsoon storms for the fifth...

    Bringing the Ocean to the Land: A Revolutionary Step in MEIL’s Machilipatnam Port

    In a historic endeavour set to redefine India's maritime landscape, the Andhra Pradesh Maritime...