Serentica Renewables has signed a long-term Power Purchase Agreement (PPA) with MRF, to supply clean power under the captive power framework. A SPV was created specifically to supply RE power to MRF in which MRF has picked captive minority stake and the rest is held by Serentica.
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 Renewables. 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.
This agreement helps in expanding company’s renewable energy solutions for a large industrial clients seeking flexible and reliable clean power. The captive arrangement will allow MRF to meet its substantial electricity requirements, supporting its ongoing sustainability and net-zero ambitions.
Commenting on the partnership, Akshay Hiranandani, CEO, Serentica Renewables, said, “Our partnership with MRF marks another major step in enabling India’s industrial decarbonization journey. 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.”
This partnership further reinforces Serentica’s commitment to accelerating clean energy adoption in India’s industrial and manufacturing sectors, complementing its growing portfolio of renewable energy projects across the country.
