Serentica to Develop 170 MW Hybrid Project for MRF

New Delhi, Oct 13 (PTI) Serentica Renewables on Monday announced that it will develop a solar-wind hybrid project with a total installed capacity of 170 MW to supply captive power to tyre manufacturer MRF Ltd.

A special purpose vehicle was created to supply RE power to MRF in which MRF has picked captive minority stake and the rest is held by Serentica, a company statement said.

Serentica has signed a long-term Power Purchase Agreement (PPA) with MRF to supply clean power under the captive power framework.

The clean energy will be supplied from a new hybrid renewable energy project with a total installed capacity of around 170 MW, currently under development by Serentica.

The project will integrate both solar and wind generation to deliver round-the-clock renewable energy for MRF's manufacturing facilities across India through the ISTS (Inter-State Transmission System) network.

The captive arrangement will allow MRF to meet its substantial electricity requirements, supporting its ongoing sustainability and net-zero ambitions.

"By combining renewable energy with cutting-edge storage and hybrid solutions, we are delivering clean and reliable power to help leading industries like MRF transition to a sustainable future," CEO Akshay Hiranandani said.

Established in 2022, Serentica Renewables is a leading renewable independent power producer (IPP) committed to decarbonizing hard-to-abate industries by providing firm dispatchable renewable energy (FDRE) solutions.

The company has achieved a significant milestone by reaching 1,000 MW of renewable energy capacity, with ongoing projects across multiple states, leveraging a mix of solar, wind, energy storage, and advanced balancing solutions.

Backed by a USD 650 million investment from KKR, Serentica aims to supply over 50 billion units of clean energy annually, enabling the displacement of 47 million tonne of CO2 emissions. PTI KKS 1.0.