- Serentica Renewables has secured $100 million in debt financing from Rabobank and Société Générale to develop a 300 MW solar power plant in Rajasthan, India.
- The company has reached 1,000 MW in renewable capacity and plans to deliver over 50 billion units of clean energy annually.
Serentica Renewables announced on Thursday, June 5, that it has secured $100 million in debt financing from global financial institutions Rabobank and Société Générale to develop a 300 MW solar power project in Rajasthan.
The funding marks the company’s second External Commercial Borrowing (ECB) transaction, signalling continued investor confidence in its clean energy vision. According to a company statement, the project will supply green electricity to Bharat Aluminium Company Limited (BALCO), a leading aluminium producer in India and a subsidiary of the Vedanta Group.
Furthermore, Akshay Hiranandani, CEO of Serentica Renewables, highlighted the importance of the project in India’s broader energy transition. “This is a crucial step in our mission to provide reliable, clean energy solutions that empower industrial giants like BALCO to decarbonise,” he said. “Together, we’re driving a greener and more sustainable future for the nation.”
Amardeep Parmar, Head of Project Finance Asia at Rabobank, also expressed confidence in the partnership. “We are proud to partner again with Serentica and bring our structuring expertise to a project that will deliver strong, long-term, sustainable impact,” he said.
Meanwhile, with this new project, Serentica has reached a significant milestone—1,000 MW of renewable energy capacity. The company is actively developing projects across several Indian states, utilising a mix of solar, wind, energy storage, and advanced balancing technologies.
In addition, backed by a $650 million investment from global investor KKR, Serentica aims to supply over 50 billion units of clean electricity annually, displacing 47 million tons of CO₂ emissions. The Rajasthan project strengthens the company’s mission to decarbonise India’s sector and support the nation’s clean energy goals.