India Energy will develop 1500MWh energy storage project
Serentica Renewables, an energy company based in India, signed an agreement with Greenko Group to provide industrial customers with a clean energy storage capacity of 1500MWh. The clean energy platform is supported by private equity fund KKR&Co and will acquire capacity from Greenko's pumped storage project in India.
According to the partnership, Serentica will use the pumped storage of off-line closed-loop projects planned by Greenko in Andhra Pradesh and Madhya Pradesh. Pratik Agarwal, director of Entica Renewables, said that promoting the use of renewable energy by promoting new and proven storage technologies will be the key to large-scale decarbonization in India. We are glad to work with Greenko to accelerate India's energy transition to a carbon-neutral future.
Storage capacity will enable us to provide customized solutions to best meet the needs of our customers in the transition to sustainable energy and providing firm, schedulable renewable energy. Serentica has signed three long-term power purchase agreements for planned storage capacity of energy.
The company also recently received an investment of 400 million USD from KKR, and plans to develop about 1.5GW of solar and wind energy capacity in Karnataka, Rajasthan and Maharashtra. As part of the medium-term goal, Serentica's goal is to install 5GW of renewable energy capacity through different storage technologies.
Anil Chalamalasetty, founder and managing director of Greenko, said that our contract with Serentica is another example of the long-term sustainability of carbon-free energy solutions supported by energy storage. We firmly believe that carbon-free energy solutions are the way forward, which can create a unique value proposition for Indian manufacturing industry and allow it to target inaccessible and/or less feasible international markets.
We at Greenko are developing a variety of pumped storage assets, which is one of the most competitive and sustainable energy storage technologies in the world. In 2022, Greenko announced plans to build a 5.23GW renewable energy storage facility in Andhra Pradesh, India.
Next：1GW Energy Storage Project in Scotland
Previous：Australia 50MW/50MWh battery energy storage project
