Serentica Renewables has signed a Power Purchase Agreement (PPA) with the Solar Energy Corporation of India (SECI) for a 600 MW (2,400 MWh) allocation under SECI’s Firm and Dispatchable Renewable Energy (FDRE) VII Assured Peak tender, advancing the project towards implementation.
The company emerged as the largest awardee in the auction, securing the highest allocation among all bidders.
The long-term PPA enables the development of a storage-backed renewable energy project designed to supply electricity during non-solar hours, supporting grid stability and meeting India’s growing evening peak power demand.
Under the FDRE VII tender, which has a total tendered capacity of 4,800 MWh, developers are required to deliver renewable power exclusively during assured peak hours. The procurement framework is aimed at improving grid reliability by integrating renewable generation with energy storage.
The project is expected to generate approximately 975 million units of renewable electricity annually while avoiding more than 1 million tonnes of carbon emissions each year. Following the award, Serentica Renewables’ utility-scale renewable portfolio has expanded to over 8.7 GWp.
Commenting on the development, Akshay Hiranandani, CEO of Serentica Renewables, said:
“The signing of the PPA marks an important milestone in translating our successful bid into execution. As India’s power system evolves, the focus is shifting beyond renewable capacity addition to ensuring dependable, dispatchable clean energy. This project demonstrates how integrated renewable generation and storage can reliably serve peak demand while supporting grid stability. We remain committed to developing innovative energy solutions that accelerate India’s transition to a resilient, low-carbon power system.”
The project further strengthens Serentica Renewables’ presence in India’s storage-backed renewable energy segment, supporting the country’s transition towards a more resilient, flexible and low-carbon power system while enhancing long-term energy security.
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