KKR will invest $400 million in Serentica Renewables, a decarbonization company that works to drive energy transition by providing clean energy services for energy-intensive industries.
Serentica looks to deliver clean energy services for industrial customers, including renewable energy offerings through power purchase agreements (PPAs) and working with customers to help with net-zero electricity. Currently, the company has entered into three long-term PPAs and is in the process of developing approximately 1,500 MW of solar and wind power projects across various states in India including Karnataka, Rajasthan and Maharashtra.
“We are delighted to back Serentica through this latest strategic partnership and are excited to develop Serentica into a leading decarbonization platform that can contribute meaningfully to the energy transition requirements that lie ahead of us,” says Hardik Shah, partner at KKR.
Standard Chartered Bank acted as financial advisor to Serentica for this transaction.