Serentica Renewables has signed a Power Purchase Agreement (PPA) with the Solar Energy Corporation of India (SECI) for a 600 MW (2,400 MWh) Firm and Dispatchable Renewable Energy (FDRE) project awarded under SECI’s FDRE VII Assured Peak tender. The agreement marks a major step towards the implementation of one of India’s largest storage-backed renewable energy projects and reinforces the company’s position as the largest successful bidder in the auction.
The long-term PPA formalises the power offtake arrangement and enables the development of an advanced renewable energy project designed to supply electricity during peak demand periods. The project will integrate renewable generation with energy storage to deliver firm and reliable power, supporting grid stability while addressing the country’s increasing demand for electricity during evening and non-solar hours.
The FDRE VII programme, with a total tendered capacity of 4,800 MWh, represents one of India’s most sophisticated renewable energy procurement initiatives. Unlike conventional renewable energy projects, the Assured Peak framework requires developers to supply electricity exclusively during non-solar periods, ensuring dependable clean power when demand is at its highest. The initiative is expected to play an important role in strengthening the country’s electricity network while accelerating the transition towards a more resilient energy system.
The 600 MW project is projected to generate approximately 975 million units of renewable electricity every year and reduce carbon emissions by more than one million tonnes annually. Following this award, Serentica Renewables’ utility-scale portfolio has expanded to over 8.7 GWp of contracted renewable energy capacity, further strengthening its presence in India’s rapidly growing clean energy sector.
Commenting on the development, Akshay Hiranandani, Chief Executive Officer of Serentica Renewables, said the signing of the agreement marks the transition from project award to execution. He noted that India’s energy transition increasingly requires renewable power that is not only clean but also dependable and dispatchable. He added that integrating renewable generation with energy storage will help meet peak demand, improve grid reliability and support the country’s long-term decarbonisation objectives.
Established in 2022, Serentica Renewables is focused on providing firm dispatchable renewable energy solutions for energy-intensive industries across India. The company currently has more than 8,700 MW of contracted renewable energy capacity and over 3,200 MW of operational assets across multiple states.
Its portfolio includes solar, wind and energy storage projects designed to deliver reliable clean power while supporting industrial decarbonisation. Backed by a US$650 million investment from KKR, Serentica Renewables is expanding its renewable energy footprint through utility-scale projects and innovative energy solutions, contributing to India’s clean energy transition and strengthening the country’s long-term energy security.
