Serentica Renewables, Greenko sign 1.5 GWh pumped hydro storage deal


From pv magazine India

India's Serentica Renewables has signed an agreement with Greenko Group to source 1.5 GWh of energy storage capacity. It aims to provide round-the-clock, dispatchable renewable energy to its industrial clients.

Under their partnership, Serentica Renewables will use pump storage capacity from Greenko’s upcoming off-stream, closed-loop projects in Andhra Pradesh and Madhya Pradesh. It said it aims to provide assured, renewable energy via a combination of solar, wind, energy storage, and balancing solutions.

Serentica Renewables has signed three long-term power purchase agreements. It is now in the process of developing 1.5 GW of solar and wind power projects across various Indian states, including Karnataka, Rajasthan, and Maharashtra.

Over the medium term, Serentica Renewables aims to install 5 GW of carbon-free generation capacity, coupled with different storage technologies. It wants to supply more than 16 billion units of clean energy per year, and to displace 20 million tons of CO2 emissions.

Serentica Renewables recently raised $400 million from global investor KKR.

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