Serentica Renewables Announces Groundbreaking Energy Storage Contract with Greenko

Contracts 1,500 MWh of dedicated 6-hour energy storage capacity to provide true round-the-clock green energy solutions for its industrial customers

HYDERABAD: Serentica Renewables (“Serentica” or the “Company”), a leading C&I-focused renewable energy developer in India, announced that it has signed a first-of-its-kind standalone energy storage capacity offtake contract with global energy storage developer, Greenko Group. As part of this contract, Serentica will leverage Greenko’s unique energy storage capabilities to utilize a cumulative 1,500 MWhr capacity from its upcoming energy storage projects in Andhra Pradesh and Madhya Pradesh.

This landmark deal will augment Serentica’s efforts to deliver round-the-clock, firm, and dispatchable renewable energy to its industrial customers with an annual assurance of >95% and a 15-min time-block assurance of >85%. It will uniquely position the company as one of the select few renewable generator IPPs in the country that can offer a true round-the-clock solution.

Commenting on the milestone, Pratik Agarwal, Director, of Serentica Renewables, said, “Long-duration energy storage is critical to decarbonizing the country’s energy consumption and reducing greenhouse gas emissions. As we gear up to deliver round-the-clock renewable energy for our industrial customers, this unique energy storage capacity offtake contract with Greenko puts us on an accelerated trajectory in our mission to transition hard-to-abate, energy-intensive industries to clean energy and help reverse climate change.”

As the world transitions to a clean energy future, energy storage solutions will play a vital role in ensuring a reliable and sustainable power supply. These advanced storage solutions help industries to move away from captive thermal plants or other fossil fuel-based sources and rely on renewable energy for 100% of their electricity needs. Today, pumped storage hydropower (PSH) is considered as the most mature and widely used energy storage technology, accounting for over 95% of the world’s installed storage capacity.