KKR to invest $400 million in decarbonisation platform Serentica Renewables

KKR has signed definitive agreements to invest $400 million in Serentica Renewables, a decarbonisation platform that seeks to enable the energy transition by providing complex clean energy solutions for energy-intensive and 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 (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 around 1,500 MW of solar and wind power projects across various states including Karnataka, Rajasthan, and Maharashtra. Standard Chartered Bank acted as the sole financial advisor to Serentica for this transaction.

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