- KKK invests $400 million in Serentica Renewables.
- Serentica Renewables has currently entered into three long-term PPAs.
Global investment company KKR has announced investing $400 million (£346m) in the Indian decarbonisation platform, Serentica Renewables. Serentica Renewables seeks to enable the energy transition by providing clean energy solutions for energy-intensive, hard-to-abate industries. It includes renewable energy solutions through long-term power purchase agreements (PPAs) and working closely with customers to design their paths to net zero electricity.
Serentica Renewables has entered into three long-term PPAs and is developing around 1,500MW solar and wind power projects across various states, including Karnataka, Rajasthan and Maharashtra.
KKR sees renewables as core to its infrastructure strategy in the Asia Pacific region and seeks to invest in significant opportunities across the region.
Pratik Agarwal, Director of Serentica Renewables, said: “This transaction is amongst the largest industrial decarbonisation investments in India to date and carries forward the global decarbonisation agenda, which is centre stage at COP27 holding in Egypt.”