Serentica to Raise USD 6-8 Billion for Major Renewable Growth

Serentica Renewables is gearing up for one of India’s biggest clean-energy expansions, laying out plans to raise USD 6 billion to USD 8 billion over the next five years.

The funding will support fresh acquisitions and new project builds as the company looks to more than double its renewable capacity.

Backed by KKR, Serentica aims to invest USD 10 billion to USD 11 billion to scale its portfolio to 17 GW by 2029/30, Chairman Pratik Agarwal said today. The company is actively scouting for operating assets and projects already under construction, positioning itself to capture opportunities in a market where India is accelerating its shift to non-fossil power sources.

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Serentica currently runs 2 GW of installed solar and wind capacity, with another 2 GW set to go live within 10 months. Agarwal noted that the first investment phase of about USD 3 billion is fully funded, while the next USD 2 billion phase is partly secured, with additional talks underway. He stressed that acquisitions remain “purely opportunistic and value-based,” with the company evaluating options from the 3 GW to 5 GW of clean-energy capacity now on sale in India.

India’s broader renewables landscape is surging as the country pushes toward 500 GW of non-fossil capacity by 2030. That growth demands stronger transmission networks — a space where Resonia, spun out of Sterlite Power, is stepping in with aggressive investment.

Backed by GIC, Resonia plans to inject USD 1.5 billion to USD 2.5 billion annually into India’s transmission sector. The company targets USD 2 billion to USD 3 billion in project wins each year, aligning with the USD 14 billion to USD 16 billion pipeline expected to be awarded soon. With renewable installations rising fast, expanding transmission infrastructure has become critical to keep pace with the nation’s clean-energy goals.