KKR-Vedanta joint venture ties up Rs 26 billion loan for green power projects

Reportedly, Serentica Renewables, the joint venture between KKR and Vedanta has tied up a loan of Rs 26 billion from Power Finance Corporation (PFC) for green power projects which are being built to meet captive needs of Vedanta Group companies.

Serentica Renewables, in which KKR has invested over USD650 million thus far, will oversee the development of solar and wind initiatives in the state of Karnataka. The total cost for these projects is estimated at approximately Rs 35 billion, contributing to a total power generation capacity of about 400 MW.