On Thursday Serentica Renewables said it has tied up with PFC for a Rs 2,600 crore debt funding for its upcoming projects in Karnataka.

The business is installing 400 MW of wind and solar capacity in Karnataka, where it has already obtained connectivity to the interstate transmission system (ISTS).

“The debt funding…will accelerate our journey towards supplying 40 billion units of clean energy annually to energy-intensive industries and displacing 37 million tonne of carbon emissions,” Pratik Agarwal, Director, Serentica Renewables said.

Parminder Chopra, Chairman & Managing Director, PFC said, this transaction is in line with PFC’s expanding role in funding green projects and positioning itself as the focal agency for energy transition.

A decarbonization platform called Serentica Renewables (India), which was founded in 2022, aims to offer clean energy solutions that would make it possible for large-scale, energy-intensive companies to switch to clean energy.

Serentica aims to provide assured renewable energy through a combination of solar, wind, energy storage and balancing solutions.

The company has already secured investments worth USD 650 million from leading global investor KKR.

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