KKR has agreed to invest $400 million in Serentica Renewables, a decarbonization platform that seeks to enable the energy transition by providing complex clean-energy solutions for energy-intensive, hard-to-abate industries.
Serentica looks to deliver round-the-clock clean-energy solutions for large-scale, energy-intensive industrial customers. This includes providing renewable-energy solutions through long-term power-purchase agreements and working closely with customers to design their paths to net-zero electricity.
The company has entered into three long-term PPAs and is in the process of developing around 1,500 megawatts of solar and wind power projects across the Indian states of Karnataka, Rajasthan and Maharashtra.
Serentica’s medium-term goal is to install 5,000 megawatts of carbon-free generation capacity, coupled with different storage technologies, and supply more 16 billion units of clean energy annually and displace 20 million tonnes of carbon dio