Serentica Renewables has acquired the Indian solar business of Statkraft, adding a 445MWp operational solar plant and 1GWp of development assets in Rajasthan to its portfolio. This acquisition boosts Serentica’s operating capacity to 1.5GW, supporting its goal to achieve 17GW by 2030. The assets will help reduce CO₂ emissions by 0.6 million tonnes annually.

Statkraft, a leading European renewable energy producer, praised the deal with Serentica, highlighting the latter’s growth potential and commitment to green energy transition in India. The transaction was facilitated by Standard Chartered Bank, Khaitan & Co., Ernst & Young, and Cyril Amarchand Mangaldas, pending regulatory approvals.

Serentica Renewables, backed by a $650m investment from KKR, aims to deliver over 50 billion units of clean energy annually, cutting down 47 million tonnes of CO₂ emissions. The company plans to integrate the acquired solar assets with wind and storage systems for a more comprehensive solution to its clients’ energy needs.

Read more at Yahoo Finance: Serentica signs binding agreement to acquire Statkraft’s Indian solar portfolio