Serentica Renewables signs PPA with SECI for 600 MW assured peak renewable power project
Serentica Renewables has signed a power purchase agreement (PPA) with the Solar Energy Corp. of India (SECI) for a 600 MW assured peak renewable power project. The company secured the capacity under SECI’s Firm and Dispatchable Renewable Energy (FDRE) VII tender for the assured peak supply of 4,800 MWh (1,200 MW × 4 hours) from interstate transmission system (ISTS)-connected renewable energy projects, receiving the highest allocation among all bidders.
Under the PPA, Serentica will supply 2,400 MWh of assured peak power daily, equivalent to 600 MW for four hours. The company said the contracted power will be delivered through a co-located solar and battery energy storage system (BESS) project.
Unlike plain-vanilla renewable tenders, the Assured Peak structure mandates power delivery exclusively during non-solar hours, directly addressing the country’s growing evening peak demand and enhancing grid reliability. Under the project configuration, Serentica will deploy a co-located solar and BESS, enabling a fixed four-hour daily peak supply. The project is required to meet a stringent demand fulfilment ratio (DFR) of 70% on a monthly basis and 85% annually, ensuring reliable and consistent delivery of clean power during critical peak periods.
The PPA formalises the long-term offtake arrangement and paves the way for the development of the FDRE project designed to strengthen grid reliability by delivering renewable power during peak demand hours.
According to the company, the project is expected to generate around 975 million units of renewable energy annually and help avoid over one million tonnes of carbon emissions each year. With this win, Serentica’s utility-scale portfolio has grown over 8.7 GWp of renewable capacity
“As India’s power system evolves, the focus is shifting beyond renewable capacity addition to ensuring dependable, dispatchable clean energy,” said Akshay Hiranandani, CEO, Serentica Renewables. “This project demonstrates how integrated renewable generation and storage can reliably serve peak demand while supporting grid stability.”
Established in 2022, Serentica Renewables is an independent power producer (IPP) focused on decarbonizing hard-to-abate industries by providing firm dispatchable renewable energy (FDRE) solutions. The company has reached 8,700 MW of renewable energy contracted capacity and over 3,200 MW of operational capacity , with ongoing projects across multiple states, leveraging a mix of solar, wind, energy storage, and advanced balancing solutions. Backed by a $650 million investment from KKR, Serentica aims to supply over 50 billion units of clean energy annually, enabling the displacement of 47 million tons of CO₂ emissions.
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