Ambitious Capital Raise
Serentica Renewables, backed by private equity giant KKR, has announced plans to raise between $6 billion and $8 billion over the next five years to accelerate India’s clean energy expansion. The funding will support acquisitions and new projects as the company seeks to more than double its renewable energy portfolio The Hindu BusinessLine ZAWYA World Energy News ET EnergyWorld ESG News EQ Mag Pro.
Expansion Strategy
- Target Capacity: Serentica aims to expand its portfolio to 17 gigawatts (GW) by 2029/30, up from its current 2 GW of installed solar and wind capacity. An additional 2 GW is scheduled for commissioning within the next 10 months.
- Investment Scale: The company expects to invest $10–11 billion in total, with the first phase of $3 billion fully funded and the second phase of $2 billion partially funded.
- Acquisition Focus: Serentica is evaluating 3–5 GW of operating and under-construction projects across India, describing its acquisition strategy as “opportunistic and value-based.”
Market Context
India has set ambitious targets to double its non-fossil fuel power capacity by 2030, positioning renewables at the heart of its energy transition. Serentica’s expansion aligns with this national agenda, while also responding to rising industrial demand for clean power.
The company’s sister firm, Resonia, is expected to invest $1.5–2.5 billion annually in grid infrastructure, securing $2–3 billion in transmission projects each year, ensuring that renewable capacity is matched by robust distribution networks ESG News.
Strategic Significance
Serentica’s funding drive underscores the growing role of private equity in India’s energy transition, with KKR’s backing providing credibility and financial muscle. By scaling up to 17 GW, Serentica will become one of India’s largest independent renewable power producers, strengthening the country’s position as a global clean energy hub.
Outlook
With financing discussions underway and early phases already secured, Serentica is poised to play a pivotal role in India’s green energy transformation. The planned $8 billion raise highlights both the scale of investor confidence and the urgency of expanding renewable infrastructure to meet India’s climate and energy security goals.
