Serentica Renewables, which is backed by Anil Agrawal, will receive $400 million from the international investment firm KKR. The US-based company wants to establish a new energy platform with Serentica to offer clean energy options and support the decarbonisation of large industrial platforms.
It is not yet known how much stake KKR will buy in the company. Pratik Agarwal, director of Serentica Renewables, stated that, “This transaction is amongst the largest industrial decarbonisation investments in India to date and carries forward the global decarbonisation agenda which is centre stage at COP27.”
Agrawal also added that out of the $400 million investment, $100 million will go towards “growth capital”, while the rest will be invested in the project. Standard Chartered Bank was the sole financial advisor to Serentica for the deal.
KKR has invested almost over $15 billion globally in renewable resources like wind and solar energy, totalling an operational power generation capacity of 23 GW as of 31 December 2021.
