Serentica plans up to $8 billion fundraise to expand clean energy portfolio

Serentica Renewables is planning to raise $6 to $8 billion over the next five years. This capital will fuel acquisitions and new projects, aiming to more than double its operational capacity.

According to Chairman Pratik Agarwal, the company’s broader goal is to invest $10-11 billion to scale its portfolio to 17 GW by 2029-2030. Currently operating 2 GW of solar and wind capacity, Serentica expects an additional 2 GW to come online within ten months.

The company is actively pursuing an acquisition strategy, evaluating the 3-5 GW of renewable assets currently on the market in India. Agarwal described the approach as “opportunistic and value-driven.”

In a parallel development, Agarwal’s transmission venture, Resonia, is also planning a major investment push. Formed after the breakup of Sterlite Power and backed by GIC, Resonia aims to invest $1.5-2.5 billion annually to build out the crucial transmission infrastructure needed to support India’s 500 GW non-fossil fuel target by 2030.

The featured photograph is for representation only.