Sterlite Power, a private power transmission provider possessed by the Vedanta Group, is launching a family company to make renewable energy systems serving marketable and artificial consumers( C&I).
Serentica Renewables will make1.5 Gigawatt( Gw) of solar, wind and energy storehouse capacity in Karnataka, Maharashtra and Rajasthan.’ Business Standard’ reported in July that Sterlite will form a new platform for furnishing green energy to artificial consumers.
Pratik Agarwal, Sterlite Power’s managing director and prophet for Serentica, said close to 600 Mw of the round- the- timepiece green power would be supplied to Vedanta Group as part of the “ company’s( Vedanta’s) decarbonisation strategy ”.
“ In the medium term, we wish to gauge up the capacity to 5 Gw of renewable energy capacity with energy storehouse technologies. We’re aiming to produce 15 billion units of clean energy annually and displace 20 million tonnes of CO2 emigrations, ” Agarwal said.
The original1.5 GW capacity will be commissioned in 24 months, subject to statutory blessings, said a statement by the company. “ Serentica will also share widely in Government tenders subject to the design having solidarity with its overall focus of furnishing direct green energy results to marketable and artificial guests, ” it said.
Sterlite owns a 26 per cent request share in India’s power transmission business, the loftiest among private companies. It also manufactures high power operators,extra-high voltage lines, and optic ground line.
Agarwal said the group’s experience in transmission and design planning would help Serentica force green power at competitive rates.
“ We can go to high- threat spots where no bone differently will as we’ve in- house moxie to set up transmission networks in all kinds of terrains. Land isn’t a constraint for the sector but land with no transmission connectivity is. We’ll not face that challenge. C&I guests want green energy along with grid connectivity which Serentica can give, ” said Agarwal.
Serentica Renewables is 100 per cent possessed by Twinstar Overseas Limited( TSOL), which also owns controlling stakes in Sterlite Power Transmission Limited & Sterlite Technologies Ltd. TSOL is a company of the Vedanta Group.