Press Release
KKR to Invest $400 Million in Decarbonization Platform Serentica Renewables
November 8, 2022- Serentica seeks to enable the energy transition for energy-intensive, hard-to-abate industrial sectors by providing complex clean energy solutions
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Transaction is among the largest industrial decarbonization investments in
India to date
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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 (“PPAs”) and working closely with customers to design their paths to net-zero electricity. Currently, the Company has entered into three long-term PPAs and is in the process of developing ~1,500 MW of solar and wind power projects across various states including
Serentica’s launch builds on the favorable macroeconomic tailwinds behind India’s power and renewables sectors, as well as the government’s strong commitment to advancing India’s energy transition. In addition, Serentica looks to provide clean energy alternatives to the critical but hard-to-abate industrial sectors that continue to drive India’s development and economic growth. As energy demands continue to rise alongside India’s developmental needs and prosperity, there is significant potential for renewable energy to play an important role in meeting the energy needs of the industrial sector in a sustainable manner.
Standard Chartered Bank acted as the sole financial advisor to Serentica for this transaction.
KKR makes its investment from its Asia Pacific Infrastructure strategy. The transaction in Serentica marks KKR’s latest investment in
About Serentica Renewables
Established in 2022, Serentica Renewables is 100% held by
For more details on Serentica, please visit www.serenticaglobal.com
About KKR
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life, and reinsurance products under the management of
View source version on businesswire.com: https://www.businesswire.com/news/home/20221107006199/en/
Media enquiries:
For Serentica Renewables:
Ajay Padamanabhan
+91 90112 38700
contact@serenticaglobal.com
For KKR:
+ 65 9139 5813
WeiJun.Ong@kkr.com
Source: KKR
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