Serentica Renewables has revealed plans to construct a 170-megawatt hybrid renewable energy facility to supply power directly to tyre manufacturer MRF Ltd. To facilitate this, a dedicated entity has been formed, with MRF holding a minority stake under the captive power model, while the majority share remains with Serentica, the company said in a statement.
A long-term energy supply agreement has been signed between Serentica and MRF, ensuring a steady flow of green electricity generated from a mix of solar and wind sources. The power will be delivered through India’s interstate transmission infrastructure and will serve MRF’s production sites nationwide.
This setup is intended to help MRF significantly cut its carbon footprint and progress toward its environmental targets, including long-term sustainability and net-zero emissions. Akshay Hiranandani, CEO of Serentica Renewables, said the initiative reflects the company’s strategy to provide reliable clean energy to industries through integrated renewable and storage solutions.
Serentica Renewables is an ambitious and rapidly growing Indian clean-energy company focused on industrial decarbonization and round-the-clock renewable power. Established in 2022, it serves large, energy-intensive sectors such as aluminium, steel, chemicals, and mining by providing a mix of solar, wind, storage, and balancing solutions.
One of Serentica’s distinctive approaches is its use of Power Delivery Agreements (PDAs) that guarantee a firm, on-demand supply of renewable energy, overcoming the intermittency challenge typical of solar or wind alone. The company has already signed ~1,800 MW of PDAs. Its pipeline spans key states such as Karnataka, Rajasthan and Maharashtra, and it is developing hybrid “round-the-clock” parks combining solar, wind and energy storage to ensure reliable green power.
Financially, Serentica has attracted strong backing. Global investment firm KKR is a strategic investor, and the company recently raised over USD 100 million in debt financing from Rabobank and Société Générale to support a 300 MW solar project supplying power to BALCO. It also plans to scale aggressively — targeting an additional 6.5 GW capacity by 2027. Serentica Renewables is positioning itself as a key enabler of India’s transition to sustainable energy, especially for “hard-to-abate” industrial players. Its blend of technical innovation, strong capital backing, and strategic partnerships give it significant potential in the nation’s clean energy landscape.
