On Monday, the Indian decarbonization platform Serentica Renewables announced a $250 million investment from KKR & Co Inc (KKR.N).
“This latest investment will support the company’s effort to achieve 4000MW of installed renewable energy capacity that will aid clean energy delivery to large-scale industrial customers,” Serentica Renewables stated.
In November, KKR, which owns Serentica alongside billionaire Anil Agarwal’s Twinstar Overseas Ltd., pledged $400 million.
Serentica, founded last year, focuses on industrial decarbonization by making renewables the dominant energy source for commercial and industrial sectors, which utilize more than 50% of India’s power.
In the past fiscal year, foreign investment in India’s renewables industry rose to 5% from 3.3%.
