NewsOrders & DealsSerentica Renewables and MRF Partner for 170 MW Solar-Wind Hybrid Power ProjectSerentica Renewables and MRF Partner for 170 MW Solar-Wind Hybrid Power Project
Serentica Renewables and MRF Ltd have announced a partnership to develop a 170 MW solar-wind hybrid project. The project will supply captive power to MRF's manufacturing facilities across India through a long-term Power Purchase Agreement. MRF will hold a captive minority stake in the Special Purpose Vehicle, while Serentica will maintain the majority stake. The hybrid project aims to provide round-the-clock renewable energy, supporting MRF's sustainability goals and net-zero emission targets. Serentica Renewables, established in 2022 with a $650 million investment from KKR, aims to generate over 50 billion units of clean energy annually and displace 47 million tonnes of CO₂ emissions.
*this image is generated using AI for illustrative purposes only.
Serentica Renewables, a rising player in the renewable energy sector, has announced a significant partnership with MRF Ltd, a leading tyre manufacturer in India. The collaboration aims to develop a 170 MW solar-wind hybrid project, marking a substantial step towards sustainable energy solutions in the manufacturing industry.
Key Details of the Partnership
- Project Capacity: 170 MW solar-wind hybrid
- Power Supply: Captive power for MRF Ltd
- Agreement Type: Long-term Power Purchase Agreement (PPA)
- Energy Distribution: Through Inter-State Transmission System network
- Project Structure: Special Purpose Vehicle (SPV)
- MRF holds a captive minority stake
- Serentica holds the majority stake
Project Highlights
The hybrid project is designed to integrate both solar and wind generation capabilities, aiming to provide round-the-clock renewable energy to MRF's manufacturing facilities across India. This innovative approach addresses one of the key challenges in renewable energy - consistent power supply regardless of weather conditions or time of day.
Strategic Benefits
For MRF Ltd
- Supports sustainability goals
- Contributes to net-zero emission targets
- Ensures reliable clean energy supply for manufacturing operations
For Serentica Renewables
- Expands project portfolio
- Strengthens position in the renewable energy market
- Demonstrates capability in delivering large-scale hybrid projects
About Serentica Renewables
| Aspect | Details |
|---|---|
| Establishment | 2022 |
| Current Capacity | 1,000 MW of renewable energy |
| Backing | $650 million investment from KKR |
| Annual Clean Energy Goal | Over 50 billion units |
| CO₂ Emission Displacement Target | 47 million tonnes |
This partnership between Serentica Renewables and MRF Ltd represents a significant move in the Indian industrial sector towards adopting clean energy solutions. It showcases how renewable energy can be integrated into large-scale manufacturing operations, potentially setting a precedent for other industries to follow in their sustainability journey.
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