Statkraft Sells 1.5 GWp Renewable Projects in India to Serentica Renewables

Transaction Details

Statkraft has signed an agreement to sell a renewable energy portfolio in Rajasthan, India, to Serentica Renewables. The portfolio includes the Khidrat 445 MWp solar plant and a pipeline of solar and wind projects totaling 1000 MWp.

Strategic Shift

Statkraft is reallocating its capital to focus on core markets in Europe and South America, aiming to enhance value creation and impact in these regions.

Serentica's Ambitions

Serentica Renewables, established in 2022, is focused on decarbonizing hard-to-abate industries by providing renewable energy solutions. The company has reached 1,000 MW of renewable energy capacity and plans to supply over 50 billion units of clean energy annually.

Investment and Impact

Serentica is supported by a $650 million investment from KKR and aims to displace 47 million tons of CO₂ emissions through its renewable energy projects.