India-based Serentica Renewables has launched a renewables platform in India with plans to install 1.5GW of solar and wind power.
Nearly 600MW of the capacity will be used to provide “round-the-clock” (RTC) energy to entities of oil and mining company Vedanta.
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Set to be commissioned in 24 months, the projects will be located in the states of Karnataka, Rajasthan and Maharashtra, with the renewable company already acquiring connectivity approvals.
“We want to take advantage of the best-in-class policy framework rolled out by the government of India to promote green energy in the C&I (commercial & industrial) sector,” said the company.
The Indian company aims to install up to 5GW of capacity in the medium-term coupled with energy storage and participate in government tenders.
Indian companies have turned to dispatchable renewables lately with two state-owned companies, Solar Energy Corporation of India (SECI) and NTPC Vidyut Vyapar Nigam (NVVN) seeking RTC renewables generation.
Independent power producer ReNew Power has secured US$1 billion in funding for a 1.3GW RTC solar and wind project that includes a battery energy storage system.